a bear cypher advanced formation is setting up gbpcad. looking for reversal signals within the sell zone. the optimal execution timeframe for this size of a pattern is 5M.
Trade active:
executed short.
Comment:
target adjustment. As price went deeper into the sell zone the fibs were restretched to the extreme D-point.
Trade closed: target reached:
target one is hit. closed half and moved the stop loss for remaining half to breakeven.
Trade closed manually:
second half closed breakeven.
