skymtrader
Short

Bearish Cypher Pattern

FX:EURUSD   Euro / U.S. Dollar
Bearish today and bullish upcoming Sunday into Monday perhaps...Let's see!!!
Banked 72 pips shorting over the weekend. Entered long after exiting target 2 and up about 80 pips. Looking to exit 1.13300
Reply
When you measure cypher's C point, use fibonacci extention tool. The reason: XABCD drawing tool (on C to A line) shows retracement/extention of AB (!) leg. To find a correct location of cypher's C-point we need XA's extention, not AB's. I think the C-point on your drawing doesn't hit 1,272XA. If so, then the pattern is invalid. Please, check the ratios.
+2 Reply
skymtrader Alexander_Nikitin
Thanks you're absolutely correct about the C leg falling short of the 1.272. I was aware of this fact and posted this idea anyway because in my experience trading this pair for the last 2 years I've often seen these patterns work out when they come this close to a 100% completion. Such as in this case, where quite honestly, the C leg comes in shallow @ just over 1.2% but all other swing points hit their approximate marks. I traded from B to C the day before with a target of 1.2% ext and picked up 111 pips so when I wake the next day I not only notice a potential Cypher pattern but that it has been completed by an impulse leg from C to D that's also higher than the most recent swing high. With so many positive factors I have a very strong case for shorting and decided to share. I like your ideas also and your insight is always welcome. Thanks again
Reply
if c doesn't touch 1,272 then it's a shark pattern, not cypher.)
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out