AUDUSD Bearish Cypher Sell@0.9260

FX:AUDUSD   Australian Dollar / U.S. Dollar
61 5 1
Sell AUDUSD             @ 0.9260/62 Set 1st target at 10 pips and 2nd target at 0.9236
If you're interested, you might want to take a look at
this page:
Scroll down almost to the bottom and it gives a very simple but accurate
pic of a Cypher. My rules are somewhat different but it shows the basic pattern.
For me, A to B must be at least .382 but under .500 once it reaches .500 it is
more likely a Shark or a Bat pattern.If/ And Point C must be at least 1.27 fib ext of X to A
but no more than 1.414. So! by my rules of engagement this particular pattern
does not have the harmonics that I require for a trade. Some might call it a Bat
but, that places D at the .886 which to my eyes is a much better test of resistance.
That would make this a reasonable set up to short @ around .9269 and would require
small risk to know it it was gonna work. Almost anything above .9280 and I suspect
the market is up to something higher.
Wishing you lots of pips in your pocket for 2014 and beyond !!!!!!!
AShayo dojitrader
I will keep all that in mind next time.
The page neoharmonics is just great ! I am printing out all those patterns.
Thanks a lot dojitrader !
You're welcome !!!
This is also a great webpage:
You can download the pdf for free.
Best wishes ~~~~~~~
+1 Reply
for a valid Cypher Pattern Extension of XA need to close candle at least below 1.272 but not below1.414 - BC must close below A otherwise its a Double Buttom
AShayo stickdog
Yeah... I think I missed that. Thanks !
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