Taking this Cypher, here are the pros and cons....
PRO: Following the 4H chart taking the down trend.
Working off the impulse leg we have nice ratios, for the Cypher.
RSI still has room on the Daily to move up, to trigger this trade.
IF: the 4H RSI dips down below the 80 line, then back up, we may have Divergence.
Also Fib last leg on Daily chart. entry is just above .382.
CONS: May not have enough to move up to trigger.
A lot of structure below the .786. May stop price action.
Thank you good luck
PRO: Following the 4H chart taking the down trend.
Working off the impulse leg we have nice ratios, for the Cypher.
RSI still has room on the Daily to move up, to trigger this trade.
IF: the 4H RSI dips down below the 80 line, then back up, we may have Divergence.
Also Fib last leg on Daily chart. entry is just above .382.
CONS: May not have enough to move up to trigger.
A lot of structure below the .786. May stop price action.
Thank you good luck