Case Build D completion of the Cypher Previous Support / Resistance level Parallel channel
Head and shoulder pattern. aggressive entry for right shoulder to obtain better risk reward. Profit Targets: 127 fib extention
Case Build Price on A leg of reverse Cypher Support level Right shoulder formation of a Head and shoulder pattern Divergence on the Daily
Case Entry Pull Back after Trendline break D completion of Cypher 61% Fib retracement of bearish impulse
If D point is completed on the bullish cypher then price has a chance to reach for the D completion of the bearish cypher which alligns with Trend on higher timeframe
Entry Case Setup D completion of the Cypher Previous Support 61% fib retracement of bearish impulse move 161.8 extension Overall trend is Bearish
AB=CD completion brings price to a resistance level in confluence with the 161.8 fib extension. Also completing the C leg of a bullish Cypher pattern.
AB=CD completes the D point of a Cypher which aligns with the Trendline on Higher TF
Currently at the C leg of AB=CD pattern which in turn moves to complete the C leg of a bullish Cypher on previous support turned resistance. will be anticipating a short entry after C completion of the cypher