Possible Bearish Cypher forming on the Weekly

11 июл. 2017 г.

It seems there is a Bearish Cypher Harmonic, forming on the Weekly.
Price action has crossed the Ketchup, Mustard, water and Mayo EMAs, as well as price action has been broken out of structure between May, June and July, continuing the bearish trend.

TDI shows that price action has just moved through the mid band and is continuing on through to the lower band (Water) where we can expect a Shark Fin to form, with Blood in the water, to confirm an upward move together with a confirmation of the Harmonic pattern.

It is possible to trade SHORT on the way down to the confirmation of the bearish Cypher harmonic, however I will be entering this trade LONG, should the Harmonic Cypher Pattern confirm and the Shark Fin with Blood in the Water confirm as well.

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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.

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