SPCE - Bearish ScytheI see these patterns on lower time frames (5m charts mostly -- thanks algo's). I've never quantified the pattern but they seem to be a distant cousin of the cup & handle. Usually you spot a bunch of other patterns that break down PRIOR to spotting the scythe shape becoming crystal clear, but I've yet to see one of these things fail. If you spot the scythe at highs (short), if at lows (go long). Again I've only seen these patterns work GREAT on 5-m charts, so it'll be interesting to see if this plays out, but I basically treat it as a modified cup & handle to create my price targets. I am not personally shorting SPCE, and I have no plans to. Target $32.
