First we look at the AB-CD pattern wich completes right around the structure indicated by the red line.
A little bit higher we find the 1.272 fib extension from the A to B leg. Note that we also have a bearish divergence on the RSI.
If price touches the 1.272 fib extension, look for the price to drop down to 78.6% retracement from the X to C leg to complete this Cypher pattern.
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A little bit higher we find the 1.272 fib extension from the A to B leg. Note that we also have a bearish divergence on the RSI.
If price touches the 1.272 fib extension, look for the price to drop down to 78.6% retracement from the X to C leg to complete this Cypher pattern.
Let me know what you think and press thumbs up if you like it !