Parmenides
Long

Bullish Cypher on AUDUSD

FX:AUDUSD   Australian Dollar/U.S. Dollar
Found a nice bullish cypher on AUDUSD             . The risk and reward for the first target isn't exactly 1 to 1. But, As we are on the
shelf of structure, we might see a rally up to 0.618 CD retracement.
riskmode TOP
a year ago
This isn't a cypher
A COMMON CYPHER PATTERN ISSUE
Reply
Parmenides riskmode
a year ago
Actually, i've used the extension tools to verify that the C is leg is between 1.13 to 1.414 extension of XA leg. I just like using the default tool to draw the pattern.You may check your check your chart to see if i've incorrectly drawn the C leg.
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riskmode TOP Parmenides
a year ago
The minimum extension for a cypher is 1.27 not 1.13. As stated in the link
Reply
riskmode is correct. the minimum XA extension for cypher is 1.272. Not 1.13. But you were on the right track. there is a valid bull cypher here. see my post.....
AUDUSD: Potential Bullish Cypher......Again!
+1 Reply
Parmenides EverythingForex
a year ago
Thanks for the information, everything i found on the internet points to the minimum as 1.13. Maybe it's time to backtest and see the differences between both of the harmonic ratio.
Reply
EverythingForex PRO Parmenides
a year ago
Ahhh...the internet! Taking the whisper game to the extreme! Here's the fact coming from the source of the cypher himself. Akil Stokes works with Jason Stapleton who discovered the Cypher pattern. So you can rely on what he says is the absolute truth. If you haven't, you should take his course on harmonics and trading in general. It's excellent.
A COMMON CYPHER PATTERN ISSUE
+1 Reply
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