We're just about to form the CD leg of a potential cypher pattern, so if your trading plan permits you could trade the CD completion, and then the cypher completion.
Remember what makes a cypher:
- AB is at least a .382 retracement of XA and doesn't have a candle close above .618 retracement of XA
- BC is at least 1.272 extension of XA and doesn't have a candle close beyond 1.414 extension of XA
- CD is a .786 retracement of XC
Stops 10 points above X @ 179.02
TP 1 is @ the .382 retracement of CD
TP 2 is @ the .618 retracement of CD (don't forget to move your stop down to break even at this point)
Remember what makes a cypher:
- AB is at least a .382 retracement of XA and doesn't have a candle close above .618 retracement of XA
- BC is at least 1.272 extension of XA and doesn't have a candle close beyond 1.414 extension of XA
- CD is a .786 retracement of XC
Stops 10 points above X @ 179.02
TP 1 is @ the .382 retracement of CD
TP 2 is @ the .618 retracement of CD (don't forget to move your stop down to break even at this point)