ETHUSD Possible Cypher Patter Forming Worth To Consider on 4H

By drawing a fib retracement from 1292 to 1584 we see that we have a valid first leg with a drop almost touching the 0.5 (1450).

After that we see a failed attempt to touch 1.272 (1695) and 1.414(1740) region stopping on the 4H MA 200 and 1650 resistance and going back down and these time touching the 0.5 (1450).

Now we are on our way to 1.272 (1695) and 1.414(1740) region touching but not yet breaking the 200MA, lets see what happens.

Thank you for reading my post, have a great day, wish you all the best !

Information provided is only educational and should not be used to take action in the market.

Feel free to ask anything in the comments :)

Comment:

Invalidation of the patter will come if the body of a 4H candle closes above the 1.414 (1740)

Comment:

Cypher Patter still valid with a double top rejection on the 30M timeframe rejected exactly on the 1.272 to 1.414 region.

If it continues lower target is the 0.618 (1466) to 0.786 (1388) fib ratios by drawing from the 1292 level to the current top 1758.

Trade closed: stop reached:

trade invalid we closed a full candle above 1.414