I have never really traded harmonics before, however this OMG pattern looked so much like the patterns I had seen presented by youtubers etc, that I went looking for what pattern I was seeing.
I landed on the Cypher Pattern. So according to a few google searches and this site - www.fxdayjob.com/har...monic-cypher-pattern
The potential upside on this trade us substantial if what I have understood is correct.
Entry from below 76k sats
Take profit 1 - 135k sats (approx 80% ROI)
Take Profit 2 / Close trade - 172k Sats (approx 130%)
No idea how effective this harmonic thing will be or if I have even understood how to chart them :) Only one way to find out. :)
I landed on the Cypher Pattern. So according to a few google searches and this site - www.fxdayjob.com/har...monic-cypher-pattern
The potential upside on this trade us substantial if what I have understood is correct.
Entry from below 76k sats
Take profit 1 - 135k sats (approx 80% ROI)
Take Profit 2 / Close trade - 172k Sats (approx 130%)
No idea how effective this harmonic thing will be or if I have even understood how to chart them :) Only one way to find out. :)
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What looks to me like a morning star formation on the daily gives me confidence that this is the time to enter with the daily cycle also being low and the weekly cycle ready to go, very oversold here. This should be the end of CD from the harmonic and therefore I am laddering in over the next pull back.
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