I will try this trade.
PROS: The Ratios line up nicely
RSI is approaching over bought.
Fib Ret of Daily leg, puts the .618 just above entry point.
and we could be in consolidation.
CONS: RSI on Daily is in the middle, still a lot of room to move either way.
The "C" point of the Cypher did not break structure to the down side. ( see circle area).
Good Luck.
PROS: The Ratios line up nicely
RSI is approaching over bought.
Fib Ret of Daily leg, puts the .618 just above entry point.
and we could be in consolidation.
CONS: RSI on Daily is in the middle, still a lot of room to move either way.
The "C" point of the Cypher did not break structure to the down side. ( see circle area).
Good Luck.