FX:GBPAUD   British Pound / Australian Dollar
151 7
There is a nice Cypher near completion point, after a steep rally, so I am looking for a retracement. ROE are shown on the chart.
thanks for reply and give full detail
Koryphaeen imtiaz.ahmad
You're welcome, anytime. Have a good trading day!
Koryphaeen imtiaz.ahmad
Another beautiful Cypher I took today and am collecting the profits soon:
Koryphaeen imtiaz.ahmad
Keep in mind the rules for a Cypher completion, identify them on whatever time frame you like, trade them, and make profit ;)
hello sir can u explain bcz today it touch 2.1350 .so it means again it will come down
Koryphaeen imtiaz.ahmad
I'm not sure what you mean by that, but as you know, an advanced pattern like the Cypher pattern shown on the chart has a very bearish momentum at the apex, the point of completion which is the 0.786 fib retracement of the X-C move. Usually these type of patterns, when they complete, retrace from the D point of completion till at least the 0.382 fib level and sometimes, not so rare, till the 0.618 fib. That is presented in the chart as Targets 1 & 2 with SL indications as well. The fact that today touched 2.135 and than rallied is in my oppinion an additional sign that it has to make a correction, and this correction may come at the D completion point of the Cypher. Hope that it was helpful for you.
Koryphaeen imtiaz.ahmad
As you can see, it started to move in the right direction and it will soon trigger Target 1, and let's hope Target 2 as well. These Cyphers are unbelievably precise 70% of the time... the other 30% it's just unlucky move or fundamental news which perturb the normal move:
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