ErrolMuller
Short

EURGBP H1 POSSIBLE BEARISH CYPHER PATTERN SETUP

FX:EURGBP   Euro Fx/British Pound
Good day all,

We might have a possible Cypher pattern setting up here.

We need to see a D leg completion of a 0.786% in order to have a complete pattern.

Stops needs to go above the X leg.

TGT             1 is a 0.382%
TGT             2 is a 0.618%
I know, but it also fits the ratios of a shark. How are you deciding it's a cypher and not a shark?
+1 Reply
ErrolMuller riskmode
I do not trade the shark pattern so would not know what the Ratios are for the Shark. I trade the Cypher so according to my Rules ratios this is a Cypher for me
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what makes you so sure this is a cypher and not a shark?
+1 Reply
ErrolMuller riskmode
Hello Riskmode,

According to my ratios that I use and have backtested this is a Cypher patter. I know the C leg Bearly misses my 1.27% extension but on my Metatrader I do hit the 1.27% extension so the makes it a valid cypher pattern according to my rules
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