Bearish Cypher. Monitoring the 4hr chart, we had a bearish cypher retest back to (B) leg. It then retrace back up to D leg where it sold off, from the initial sell off it retrace back to D leg again. Here is where i'm considering a short position. The 4hr chart is showing oversold rsi above the cloud. Price Action would have to gap above D leg, and if you notice Currently X leg is acting as resistances. No position, waiting for confirmation from price action
Note
look at the 2hr, both the 4hr/2hr showing bearish sentiment the market is rallying and 
AAL is seriously lagging... waiting for 4230-4250 before grabbing some puts. likely will turn down w/ the market Trade active
added some $15 puts based on 4hr chart alone, look for price action to dip under $14.50-$14.40 soonNote
Note
extending the forecast if C leg is breached Note
amazingly the market is showing so much strength yet this is so weak. imagine when the market goes down. 1% this will likely trade down 3-4% Trade closed manually
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.