Unconventional setup here. Works well for me. Initial stops are ATR based. If price moves higher I will trail stops based on my trade management rules until they are eventually hit.
.382 & .618 targets. Re-stretch fibs as price moves higher
Limit order at D point. Trailing initial stop loss as shown. If price reverses, trail stops until they are hit
As shown on chart. Re-stretch fibs if price moves lower
Wait for confirmation within the red box. Take profits at .382 and .618 price extreme. Stops shall be ATR based once an entry reason is given inside the zone. Pattern is invalidated if it exceeds red box
Wait for entry reason within the boxes show. If no entry reason give for the Shark, wait for confirmation and enter on the Alt Shark.
Wait for entry reason within the red box. Stops ATR based. Take profits at .382 & .618 A-D leg
Limit order set at D point. Stops at 1.13 XC. Targets at the .382 and .618 CD leg. Fibs should be stretched to price extreme if price moves higher before (if) reversing.
If price makes it to the red box I wait for an entry reason to occur before entering a short position. Targets as shown. Stops will be ATR based.
Stop Loss at shown. My entry will be limit order at D point. Targets at .382 and .618. These shall be re-traced based on price action.
Might be a little early on this call but, if the Cypher goes to completion (smoothly) I'll be entering short after I see an entry reason appear within the zone highlighted
Short here. Targets at .382 & .618. Stops are placed at the 1.618 XA, higher than conventional
Trailing stops being used here if price reverses.
Long entry. Wait for candlestick confirmation before entering (no limit orders)