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.
Comments
imtiaz.ahmad
⋅
thanks for reply and give full detail
Koryphaeen
⋅
You're welcome, anytime. Have a good trading day!
Koryphaeen
⋅
Another beautiful Cypher I took today and am collecting the profits soon:
Koryphaeen
⋅
Keep in mind the rules for a Cypher completion, identify them on whatever time frame you like, trade them, and make profit ;)
imtiaz.ahmad
⋅
hello sir can u explain bcz today it touch 2.1350 .so it means again it will come down
Koryphaeen
⋅
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
⋅
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: