Here on the Silver/USD pair we have a bearish cypher pattern! Along with the PRZ of the harmonic, we have an area of support/resistance and a weekly trend line- as shown below. Price has been making consecutive lower lows. With the high D point compared to the B coordinate, I expect price to go into some consolidation before either continuing or reversing at this level. Risk for a cypher pattern is 1:2 as standard.
My Stop Loss has been re-set to 17.9 - the trade is now bulletproof and no money will be lost regardless of price continuing to our target level or reversing. Happy days!
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