I am already short on bearish cypher - I had my analysis on that area as bat pattern but C point exceed A point and turned this into cypher,
I am aiming the bottom lime line to reverse because that would be a bullish cypher.
just saw this crab forming,
decided to put my stoploss over 200% of XA below structure,
however if I'll get a 4H close below my entry I'll execute stoploss(price shouldn't be there and definitely shouldn't close below that level - fakeouts are welcome)
My short never got filled although price drooped to my target 2,
I cancelled the pending order for now because pattern looked abit odd, anyway, I just saw this bearish pattern forming on the 60m chart,
got my order set, I am waiting to get filled.
I missed my entry because...
I just didn't saw that one coming :P
positive PA to the left around the 127.2% of XA leg
I set limit order and I'll wait for some re-test - from my experience rushing into a trade never make any good for either R:R nor equity curve.
price shot up today almost breaking highs from 2009, however crab pattern formed,
If price violate and close above 2009 highs, I'll exit my position,
however, on the chart is how I'll play this pattern if it will decide to reverse and go lower.
another way of playing this would look at the bigger picture see on the daily a bearish bat pattern is forming
so target 2 or target 3 would be bat pattern completion,
I am not sure yet about my final target on that one because I might see a bearish pattern forming before that bigger bat.
anyway I'd be very happy shooting for 800 pips with 60-120 pips stoploss.