Second Chance Or A Trap ?
Saw this "sorta" Cypher late on Friday and just don't like to hold new trades
over the weekend. (a gold trade is why)
Looks like the open has put the trade back into the sell range.
BUT, now this is starting to look like a B wave triangle which means
it could just as easily be the start of a C wave Up.
So, I'll take this trade if the candles trigger a sell entry close to X for a
double top and RSI divergence for a small risk.
What would you do with this ? ? ?
Oh yes, I call it a "sorta" Cypher because it does not meet
my rules for leg A to B in that it has traveled beyond the .618 Fib.
and to my experience has reduced probabilities.
over the weekend. (a gold trade is why)
Looks like the open has put the trade back into the sell range.
BUT, now this is starting to look like a B wave triangle which means
it could just as easily be the start of a C wave Up.
So, I'll take this trade if the candles trigger a sell entry close to X for a
double top and RSI divergence for a small risk.
What would you do with this ? ? ?
Oh yes, I call it a "sorta" Cypher because it does not meet
my rules for leg A to B in that it has traveled beyond the .618 Fib.
and to my experience has reduced probabilities.
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