A potential bear cypher advanced formations is setting up. It is seen by atr(2.5, 30), pips(380) and percent(0.5%) reversal algorithms. All three algorithms are the oldest ones and are frequently used by classic chart pattern traders.
If you have this pattern in your trade plan then...
Sell in 80.04-80.48 zone. if the zone is crossed then the pattern didn't work. first target is 79.66, second target is 79.42. The targets are adjusted if price action goes deeper into the yellow zone(restretch the fibs to fit priceaction and find new 0.382 and 0.618 levels).
If you have this pattern in your trade plan then...
Sell in 80.04-80.48 zone. if the zone is crossed then the pattern didn't work. first target is 79.66, second target is 79.42. The targets are adjusted if price action goes deeper into the yellow zone(restretch the fibs to fit priceaction and find new 0.382 and 0.618 levels).
Commento:
missed the entry by few pips on audjpy but was lucky to be triggered on nzdjpy with similar trade: prntscr.com/l9skn8
