Hi guys recently we have a a breakout with a good candle break above close above the diagonal resistance here on the daily time frame. We could now project probably that it could form a potential bearish cypher for a short/sell opportunity on the future depending on future market sentiment or price action. As of the momemt we could go LONG/BUY entry probably on a retracement of the lower time frame or another breakout and stops could be base on a good risk reward ratio or based on ATR (15) multiplied by 2 and for a target could go on the pattern completion itself.
Once the pattern is complete (bearish cypher) and since this is on the daily, watch or look for more confluence or confirmation before going short to have a precise entry and tight stop loss and targets based on this setup as well with a good risk:reward.
Trade with care.
Once the pattern is complete (bearish cypher) and since this is on the daily, watch or look for more confluence or confirmation before going short to have a precise entry and tight stop loss and targets based on this setup as well with a good risk:reward.
Trade with care.