FunCoupons
Short

GBPJPY Bearish Cypher

FX:GBPJPY   British Pound/Japanese Yen
Well defined PRZ on this pair for this harmonic formation. Points 1 and 2 are the retracement of XC. Looking for magic 0.786 number. It looks like first target might already be in play.
riskmode TOP
2 years ago
Whaaaaaaa?! Nothing about that is a cypher. The XA leg is totally randomly placed, AB corrects beyond 61.8, AB extends beyond 141, and BC doesn't even reach the 127 extension.
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FunCoupons
2 years ago
Sorry to break this down to you riskmode, but the world of harmonics is not perfect. To me what qualifies for a cyper are the basic features, C leg extention of AB with Fib range, B point in a Fib range and D point in relation to XC. I hope you are enjoying the nice move down as me. Cheers.
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riskmode TOP
2 years ago
These patterns are everywhere. There's no reason to fudge with the numbers.
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