TomHall

EUR/USD - Cypher Pattern

FX:EURUSD   Euro Fx/U.S. Dollar
1338 9 41
EUR/USD             - 4h Chart - Cypher Pattern
Cypher Pattern - D leg completion at 1.1163 - Bullish Pattern

Price is now approaching the B leg support level between 1.248 & 1.122
If price can break below this B leg support level there is a strong probability we will get a D leg completion at strong historical support.

Potential targets are placed at the .382% and .618% retracement of the C to D move.
Stop loss has been placed below X leg structure support ..

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Great chart Tom... Trying to understand better for my own learning. Can you give me a hint as to what the 1.1163 level correlates to? Can't see it at the minute...
Reply
Hi,
The 1.1163 is the price at which point i will get long ( Buy ) as the D leg of the Cypher Pattern completes.
Reply
alr14uk TomHall
Sorry, I get that... I mean why is that level the target?
Reply
Advanced patterns are based on Fibonacci numbers and ratio's.
Once price hits these Fibonacci levels it is then classed as a valid pattern, at which point you would place a trade in anticipation that the price will reverse in your favour.

I hope this helps a little more.
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Target 1 attained, stop loss moved to break even awaiting target 2 at 1.1340
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Do you have a youtube channel or a course explaining these patterns? also generally what are your risk:reward on these?
+1 Reply
How To Trade The Cypher Pattern.
How To Trade The Cypher Pattern.
Reply
hi tom i saw this pattern somewhere too, but what time frame is this .
+1 Reply
TomHall TOP lea.lemon.7
Hi,
It was drawn on the 4h chart.
Reply
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