This was a beautiful trade. Cypher completion at minor structure (resistance). Also 1.618 fib extension and an AB=CD pattern. There was also small RSI divergence when it reached my entry. RSI was also overbought. It all added up.
Resistance area at .618 fib of most recent impulse leg down. Also a .382 retracement of the larger leg down. RSI in overbought territory. Seems like a good structure trade. I plan on waiting until price reaches 1.618 extension and a strong overbought on RSI. ATR is 15, I will place stop 15 pips above resistance line. First target .382 fib second target at...
Crab completed on Wave C. Waiting for ABCD pattern completion at retest of resistance, also new wave 3. Profit target at .382 retracement, stop just above the previous high, also 1:1 risk reward
