Bearish Cypher pattern forming on 60min chart. Sell at D completion. 1st target at 0.9114.
Best regards
Comments
JamesCorreia
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Both targets were hit.
vonluke
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You right the numbers are not the same. Hmm... I just start with Trading view few days ago and now I am little bit confuse. The number 113% worked before for me so I want just share it with you.\
JamesCorreia
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This is because the Cypher pattern is very recent, only discovered March last year. It gives wrong numbers because it's the only pattern where C crosses A. It's fine with all the other patterns. I have backtested and I had too many failling Cypher's with C at 113% so I found it not worth it. But I will take your opinion in consideration and run another backtest in to double check it.
Thanks for your intel, always welcome!
Best regards
vonluke
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I am sorry but I do not want you to be wrong. this is nor Cypher pattern because A to C i now 1.764. Cypher numbers are A to C 113-141.4. It can not be higher than 141.4. Be careful and good luck
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JamesCorreia
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Hi there vonluke. Please check the numbers in your chart, you will see the Cypher is correct. The template that TradingView uses for patterns it's not compatible for Cypher's so the numbers are wrong, but if you check it for yourself you will see that the Cypher is valid. Also, the C needs to touch 127.2% always, 113% is not enough.