A potential bear cypher advanced formation is setting up. It is seen by wpr(5,-20,-80), rsi(3,70,30), prex(5), atr(2, 30), pips(90.0) and percent(0.5%) reversal algorithms. Oscillator wave confirmation algorithms are frequently used by Ellioticians. Pips, atr and percent change swing identification algorithms are commonly used by classic chart pattern traders. Prex algorithm is a universal algorithm used by the majority of traders.
If you have this pattern in your trade plan then...
sell in 128.66-129.55 zone. if the zone is crossed then the pattern didn't work. first target is 127.88, second target is 127.40. 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 128.66-129.55 zone. if the zone is crossed then the pattern didn't work. first target is 127.88, second target is 127.40. 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).
