I would go with the C Leg forming now but the RSI shows that there is more bullish potential. Assuming that It would reach 61.8 retracement of A Leg then exhaust buying momentum, I'm looking towards a bearish extension of the C Leg down to previous structure.
Before continuing uptrend, this bear bat will retrace to structure, giving counter trend traders to gain pips on it's retracement.
Pattern is complete as there also seems to be some divergence on the RSI.
Traded on a smaller time frame means that it is less likely to pull through but there is a little structure in it's past. Let's see how it unfolds.
This Bear Gartley is in alignment with the Cypher on the Daily chart. Sometimes patterns can form that will be in-sync with another pattern long awaited. This adds confirmation of a specific shift in momentum when it comes to patterns. The RSI also shows that with one more bullish push, it will reach the oversold area.
I did not catch this as a limit order but caught it in time. Retest of previous low on this Double Bottom. Hoping to reach previous structure.
This is a trend continuation pattern where price has made a higher high, higher close. I hopped in during the retracement. Let's see where it goes.
Sometimes strategies come in multiples. If one strategy doesn't complete, there may be one inside the other. In this case, The Double Top formed which triggered a series of moves that formed the advanced Cypher Pattern on Price's bearish descent. As this pattern formed, the 2618 was already an expectancy following the Double Top. As much as I want that Cypher, I...
With a bit of RSI Divergence, this retest of structure may be signs of a bearish opportunity to sell. By executing a sell at market price, I'm looking forward to riding this to the structural targets indicated.
With an exhausted RSI, the bulls may have a difficult stretch to fully reach the 78.6, D leg retracement of XC.