Case for Entry
Series of recent HLs -> short term Bullish
RSI OB but we have a RSI trend shift above indicating market might go higher before giving another bearishDIV
prev. SUPPORT around D completion giving about 2:1 RRR using 3 ATR(7)
Target off -> STOP&REVERSE @ Butterfly entry
FIB confluence: 127XA Ret., ...
waiting for the BOOM!!
CFE (Case for Entry)
gartley BUY order @ 1752
RSI bull DIV and waiting for another LL w/t RSI HL
FIB confluences @ entry: 1414BC ext., Harmonic AB=127CD, A little bit beyond 127AB ext.
Risk 2ATR / One target @ 382 retracement
IF the market go AGAINST me;
Place butterfly BUY and CUT gartley ...
After a long lasting down trend after broke above outside return as the CYPHER completed and down-rolling market might continues...
But before that, we might anticipate a retest of the LOWs and possibly bounce one more time
As of now, the market has shown several Bullish divergences also followed by Bearish ...
HTF: BULL + RSI OB -> DIV on Daily
on 60 we just had a RSI OB DIV @ BC of the big green BAT
looking to retest of the red killzone
(1) price action hit the butterfly D leg and retrace, which tranforms the blue BAT into a CYPHER
(2) hit the CYPHER 786 then rotate up toward big green BAT which will ...
UT: BULL + recently doubleTOP with a little doubleTOP inside 60
One of these patterns would cancel each other out after an 'Anchor leg' has taken place.
My prediction: PurpleGARTLEY might go off first, which will cancel the OrangeBAT but still valid with the BlueCYPHER
Otherwise, PurpleD wouldn't have met and ...
UT: BULL -> RSI bearDIV. signal on daily
wait for break of structure @ PREV.support
(15) RSI bullDIV. 3rd time likely for D leg completion@ 182.52
Took a quick SHORT for 127/1414 confluence from recent downmoves