hodoman
Short

Nice bearish cypher on GBPNZD

FX:GBPNZD   British Pound/New Zealand Dollar
91 5 1
1st target - .382 retracement of CD and 2nd target - .618 retracement
richeyeo
2 years ago
Your Cypher C pt is 113.3 extension rather than 127.2 to 141.4. Does it still consider as a valid Cypher
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GcNaif MOD richeyeo
2 years ago
richeyeo , he is good with the C , cypher C can go between 113-141. Its ok if its close enough ( we cant get always the precise ratios on patterns)
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hodoman richeyeo
2 years ago
After reviewing the rules, I believe you're right - the C point should be an extension of at least 127.2 and max. 141.4. But I guess in the end it depends on how precise you want to be. Considering the good risk/reward ratio, I think it is still worth trying it, maybe with a smaller than usual size.
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hodoman richeyeo
2 years ago
I used this guide as a reference - http://neoharmonics.com/learning/chapter-2-fibonacci-harmonics/
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hodoman
2 years ago
I'm still holding my short position as this could have been transformed into a bearish shark as illustrated below:
snapshot
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