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PipMentor
Jan 5, 2017 3:46 PM

Updated EUR/JPY Cypher Short

Euro Fx/Japanese YenFXCM

Description

As I write price action has spiked but not yet closed beyond the original 1.414 Fib Extension.
Of course we wait for confirmation but I think this potential pattern has moved from the linked chart to most likely complete at the levels shown on this chart with re-drawn levels.

We'll wait and see. Though at this rate it looks like the advanced pattern will complete over the weekend...maybe Monday morning?!

Comment

Well price action did not close beyond the original 1.414 Fib Extension so if your rules allow a spike beyond but no close beyond, the (not this chart) original Cypher Pattern is still technically valid, working its way to 'D'.

Order cancelled

Pattern void. Original Cypher (see related idea) likely to complete.
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