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FunCoupons
Mar 10, 2015 10:46 AM

GBPJPY Bearish Cypher Short

British Pound/Japanese YenFXCM

Description

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.
Comments
riskmode
These patterns are everywhere. There's no reason to fudge with the numbers.
FunCoupons
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.
riskmode
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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