Cypher Pattern + Double Top on CHFJPY
Hi guys,
this may came too late but for pattern traders, this is still a valid entry reason, i usually take patterns with a limit order only when certain condition are met, and this is not the case. However i can still enter the trade with a valide structure reason, like the double top that you see here (with RSI Divergence). If and when price will come back, i'm going to sell this market, hoping for a completion of the pattern's targets.
Stops above the highs (and possibly above X), targets with 382 and 618 retracement of AD.
If you have questions or if you want to share your view, feel free to comment below.
Otherwise, see you in the next chart!
this may came too late but for pattern traders, this is still a valid entry reason, i usually take patterns with a limit order only when certain condition are met, and this is not the case. However i can still enter the trade with a valide structure reason, like the double top that you see here (with RSI Divergence). If and when price will come back, i'm going to sell this market, hoping for a completion of the pattern's targets.
Stops above the highs (and possibly above X), targets with 382 and 618 retracement of AD.
If you have questions or if you want to share your view, feel free to comment below.
Otherwise, see you in the next chart!
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