Cypher countering previous Gartley
Following on from the winning Gartley yesterday we can now see a bearish Cypher set up with some strong indicators adding credibility to the trade. In order to become a losing trade it must first break through some heavy resistance and RSI shows a paid that is already looking over bought. The bearish direction of this cypher set up would follow the longer term trend on the higher timeframes and with a poor GBP sentiment in particular at the moment I struggle to see a significant upside to the cable particularly with most US data in recent days falling within expectations.
Good luck
Good luck
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.