Bad use of Cypher pattern... You need use Fibonacci to apply this pattern...
jlb17ww2
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@armandomendez, This is excellent use of this pattern, while using specific Fibonacci retracements to measure each leg. Not sure what you are talking about...
ArmandoElCriptoMundo
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@FinanceRhino,
Cypher Pattern – Rules
The Cypher pattern starts with a market price that establishes the X and A points. Once this leg is determined, the pattern evolves.
Point B retraces to 0.382 – 0.618 Fibonacci level of the leg XA
Point C is formed when prices extend the XA leg by at least 1.272 or within 1.130 – 1.414 Fibonacci extension level
Point D is formed when it retraces 0.782 Fibonacci level of XC
Point D is also where prices are expected to reverse
jlb17ww2
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@armandomendez, That's great and I completely agree with you measurements of the Cypher pattern, except .782 isn't a harmonic retracement, it's .786. of XC. Also, this is a BAT pattern... So, like I said, not sure what you're talking about here.