Hi guys recently we have a a breakout with a good candle break above close above the diagonal resistance here on the daily time frame. We could now project probably that it could form a potential bearish cypher
for a short/sell opportunity on the future depending on future market sentiment or price action. As of the momemt we could go LONG/BUY entry probably on a retracement of the lower time frame or another breakout and stops could be base on a good risk reward
ratio or based on ATR (15) multiplied by 2 and for a target could go on the pattern completion itself.
Once the pattern is complete ( bearish cypher
) and since this is on the daily, watch or look for more confluence or confirmation before going short to have a precise entry and tight stop loss and targets based on this setup as well with a good risk:reward.
Trade with care.