Market looks to be in a downtrend right now. Lots and lots of lower highs. Even though it seems to be taking a breather, if market rallies up just a bit higher, a potential bearish Cypher pattern will complete and there might be a selling opportunity. Plus, since the market is in a downtrend momentum, the Cypher pattern can be used as a trend continuation trade.
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Disclaimer
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.