i already called out a bearish cypher on E/U and now A/U is setting up the same! i have a long in taking this from the C to D leg in hopes of a completion of this cypher pattern. look for possible shorts at the completion.
Cypher pattern spotted on the daily. Before the cypher takes off and gives us a possible bullish run i'm expecting it to push a little further down to my C point. i already have a sale in play. there is 161 pips left until our C leg completes. My C point is also at a Large Quarter point so look for possible BUYS there moving up to complete our C to D leg!
gold has been overall bearish on the higher time frames. this harmonic pattern goes in line withthe overall trend direction. i thought i posted this idea but i guess not. first tp of 38.2 has been reached and awaiting for 61.8 tp to be hit. stops are break even now.
I'm expecting a nice bull run back into the .05350's. our CURRENT market sentiment is bullish so i'm expecting the bulls to run back into the bottom of a bearish trendline i drew off of the daily. The trendline is also my 1.272 extension level, so i'll then be looking for POSSIBLE sells around that area back into the overall bear trend.