Looking at two Cypher Patterns. One is based on a longer term horizon (as well as being a little more in line with my Elliot Wave progression albeit I am very much a novice at Elliot Waves...working on it) while the other is a mid-term projection.
I am going to be patient on this one and go for my longer-term Cypher. This strategy is not only a by-product of my general rules of engagement when I see two patterns lining up like this but also based on a AB=CD projection (see chart).
The exact prices on this aren't 100%; correct. Based on the long-term Cypher my prices are:
Entry (Long): 2.1453
SL: 2.13927
TP: 2.16658
Please note my SL is a little aggressive; you can lower it below that previous low & still justify a favorable risk-reward. I'm just feeling a little confident about this one!
As always, I welcome the constructive feedback. Any of you Elliot Waver's out there...particularly yours as I am looking to get a better handle on it so I can add it to my toolbox.
I am going to be patient on this one and go for my longer-term Cypher. This strategy is not only a by-product of my general rules of engagement when I see two patterns lining up like this but also based on a AB=CD projection (see chart).
The exact prices on this aren't 100%; correct. Based on the long-term Cypher my prices are:
Entry (Long): 2.1453
SL: 2.13927
TP: 2.16658
Please note my SL is a little aggressive; you can lower it below that previous low & still justify a favorable risk-reward. I'm just feeling a little confident about this one!
As always, I welcome the constructive feedback. Any of you Elliot Waver's out there...particularly yours as I am looking to get a better handle on it so I can add it to my toolbox.