At market cypher advanced formation. It is seen by cci(14,100,-100), stoch(5,3,3,70,30), prex(10), atr(2.5, 30) and pips(828) reversal algorithms. Oscillator wave confirmation algorithms are frequently used by Ellioticians, pips and atr swing identification algorithms are commonly used by classic chart pattern traders and prex algorithm is a universal algorithm used by the majority of traders.
If you have this pattern in your trade plan then...
buy in 1.1344-1.12764 zone. if the zone is crossed then the pattern didn't work. first target is 1.1401, second target is 1.1439. The targets are adjusted if price action goes deeper into the yellow zone(restretch the fibs to fit priceaction and find new 0.382 and 0.618 levels).
If you have this pattern in your trade plan then...
buy in 1.1344-1.12764 zone. if the zone is crossed then the pattern didn't work. first target is 1.1401, second target is 1.1439. The targets are adjusted if price action goes deeper into the yellow zone(restretch the fibs to fit priceaction and find new 0.382 and 0.618 levels).
