Unfortunately I missed this trade. I am posting it for a reference of what a high probability trade looks like. Many things lined up to make this high probability:
1. Price reached a strong resistance area
2. RSI was overbought
3. RSI showed convergence
4. double top, retest of structure
5. Fibonacci extension of the lower impulse leg, 1.272
6. On top of all that it was a completion of a cypher pattern!
As you can see price bounced back for what would've been a great short
1. Price reached a strong resistance area
2. RSI was overbought
3. RSI showed convergence
4. double top, retest of structure
5. Fibonacci extension of the lower impulse leg, 1.272
6. On top of all that it was a completion of a cypher pattern!
As you can see price bounced back for what would've been a great short
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CADJPY Cypher
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