FX:GBPNZD   British Pound / New Zealand Dollar
Mates, a cypher advanced             formation is on my radar today.
Unlike other advanced             formations cypher was never derived from harmonic patterns . It was discovered by Darren Oglesbee from Tradeempowered.com. Cypher is not a harmonic pattern and never been one of them. Very specific rules of B and C point identification depend on a price close. TradingView has a description of this pattern but it is not correct: https://www.tradingview.com/ideas/cypherpattern/ It's a pity.:(
Two years ago I asked the moderators to change the description to a correct one. One of them, Nico.Muselle (https://www.tradingview.com/u/Nico.Muselle/), agreed with me and we elaborated the correct text. This text was verified by Akil Stokes (a trading coach from Tradeempowered): "The Cypher pattern (discovered and defined by Darren Oglesbee) is a 4-leg pattern. In a perfect Cypher pattern the AB leg should be minimum a 0.382 retracement and the close should not exceed the 0.618 retracement of the XA leg. The C point should exceed the 1.272 extension and should not close beyond the 1.414 projection of the XA leg, and the D point should be a 0.786 retracement of XC". Initially this text was accepted and the description stood correct. But then TradingView updated its design and the description was changed to a wrong one again. I just don't understand it. Comment below if you wish TradingView provide only quality stuff.
Trade active
This pattern was found by the MPS-5.2 pattern recognition software: https://goo.gl/viM3Ya

I am hosting a webinar on 21 Oct: http://ps-software.net/webinar-registration/

My Youtube channel: https://www.youtube.com/user/alexniquitos?sub_confirmation=1
welcome back!
I don't like how TV banned you and deleted your recent ideas :/
@BOB1435, Well, they suppose my ideas descriptions violate some of their house rules:)
+2 Reply
Thank you!
@hoduri, you are welcome:)
Thanks for the great analysis once again!
@zewisejajid, no problem at all:)
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