Potential AB=CD

Warnings: Market is in a strong uptrend, could potentially reach 616 then retrace down or continue the trend
Validity: AB leg and CD leg show signs of symmetry, 414 extension

Warnings:

• Look for wide range bars completing the D leg (could extend past .782) of the cypher
  
• Market has been in a strong uptrend (keep contract size small)
  
• If your trading using nadex as broker be aware of the time the pattern forms you want to have enough time to reach targets
  

Trade 1 - Aggressive traders enter at 414 extension of AB leg
Trade 2 - Conservative traders wait to enter at 616 extension of AB leg

Trade attivo:

Entered at 414

Commento:

Just noticed my short positions where placed a bit bellow 414
Stop loss is at 6407
First take profit for the 414 trade is at 6362.7
Second take profit for the 414 trade is at 6351.4

Commento:

Stop reached for trade 1

Commento:

Reached to the 1.618 of the AB=CD pattern then price action retraced down