Symmetric Triangle: Wait for Brake and Close above Resistance
1. Bearish Bat. 2. RSI Trend Continuation Div. 3. RSI Bearish Div. 4.161/886/127 Confluence at S&R. 5. Trend line. 6. S&R 7. Possible CD leg of Cypher. 8. Gap. 9. Market is below Weekly 200MA. 10. Someone said and/or is going to say something stupid short. The last one is just an alliteration from a poem.
Catch a possible move from the Top to Bottom. Close the Gaps and Ride the Wave. *singing*
Previous S&R, Bat with 886/161 confluence, Bearish targets taken off table and possible buying pressure. Tight SL, Period!
Bearish Gartley and Chypher both completing at previous S&R or Trend. The buy is more of risk, but short term bullish movement, therefore stop is tight. Reason - 786 entry previous is at S&R, and anticipation of completing D leg, also a higher double bottom. Targets previous high and 161.
H&S break neckline, market looking to test the neckline. Neckline test meets 38.2 on longer move down and 78.6 with recent break of neckline(support). This would lead to harmonic and possible Chypher. H&S, BAT, Harmonic and second leg of possible chypher completes in more or less the same area.