Bullish Cypher in BankNifty, pattern traders trade with proper stops
Hi Guys ! Yes, going against the trend is catching the falling knife, but if you have the skills, there won't be any fear. From the Nifty chart we can clearly see that there is cypher within Gartley. I expect the cypher to give Gapup open today. If the cypher fails & support is also broken, we do have another potential Gartley completion around 8620's. Those...
Bullish Cypher pattern is forming. Potential long entry @ 841 Potential Target @ SL @ 869
Potential Bullish Cypher Pattern is forming. Long Entry @ 16462 Target @ 17227 SL @ 15964
Bullish Cypher pattern is completed. RSI is also showing bullish divergence.
Nifty may open Gap up right away bcos of Bullish cypher, but as per the overview post (Lets ride the waves), there is hourly close below triangle pattern but is it gonna start the fall ?? or it's just teasing the lower trendlines of triangle ? Let's see... Anyway if you look at this cypher risk vs reward its pure awesomeness... Happy TradinG !
Sometime cypher gives inverse Risk:reward but worth it Though we get few points in patterns, their success ratio are higher than most moving avg based techniques Check your cypher ratio's n enter the trade Prev.post ( Let's Ride the waves ) - still valid I will be out today, so there won't be more post for the day, Sorry Guys ! Happy Trading !
Hi Friends, We have cypher pattern (potential) in LT and the C to D leg is channeling right now. Even in the channeling we have 2 types - outerchannel (white) on current timeframe n innerchannel (red&whitelines which is 5min Intraday). So trade it as normal breakout trade but decide whether it's gonna be 15min or 5min check ur risks before entering the trade....