O.K. thank you dojitrader, you are a good friend indeed.
Sandeep_Gupta
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O.K.thank you for the kind information, I will look other information regarding the cypher pattern, Can you please tell me who are the people that "discovered" the Cypher?
dojitrader
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The folks at this website: tradeempowered.com/ They announced it 2 or 3 years ago in a free webinar. I think it was
Darren who brought it to the attention of Jason and they gave it
extensive study and testing before they put it out there. Of course,
they left the finer points for people who want to take their ratio and
advanced pattern trading courses. But, they have freely given the basics
in many of their free training webinars. They just did one last month.
If you want you can sign up for the free weekly forex market preview.
It's always informative and interesting. He also has a pretty good
utube channel with lots of good education.
I've been listening to what they have to say for around 5 or 6 years now
Or has it been closer to 7 or 8. They have proven themselves over time.
Thanks for the info. The people that "discovered" the Cypher would say
that both websites you listed are wrong. A Cypher must at least tap
the 1.27 fib ext.
My question is: If both the Shark and the Cypher can start with
a 1.13 then how do I know which pattern I'm probably
looking to complete - thus - where to place your entry- before
it has completed. Is entry at .786 or .886 or 1.13 ?
I don't see the distinction until after the target has hit and then
it's too late.
Wishing you greats trades in 2014 !
I'd be inclined to call this a Shark, even though it does not reach the 1.13 fib ext of X to A
(pattern tracer is showing the inverse fib of A to B @ 1.18)
A Cypher requires a 1.27 which is mandatory. Plus the A to B is much too deep being
over .the .382 - .50 fib retracement. Thus point D would be around .9032 (.886)which puts the
short entry more into resistance and lowers the risk with stops above X.
Example if your interested: trade-forex-harmonic-patterns.com/harmonic-trading-tips-shark.html Wishing you lots of pips in 2014 !!!!!!