Lacin
Long

CYPHER PATTERN AT GBP/USD

FX:GBPUSD   British Pound/U.S. Dollar
136 6 5
Trade active.
Target is 1.31355
Stop 1.27620

It is long term idea. We can wait more than 2 weeks.

GL
Trade active
Trade closed: stop reached: Perfect loss!
The cypher is invalid because C-point close is higher than 1.414XA
Reply
Lacin Alexander_Nikitin
If it rights, i learned it wrong again from here because X-A-X retracement can btw 1.272 & 1.141. Candle can not close the higher of 1.141.
https://www.youtube.com/watch?v=tNkibT_htPk&list=LL3BD0A_JBEI3OxY_VYdU2sA&index=4
It is really hard to forget all of rules if your trading plan right Alexander.
Thanks a lot again.
Reply
Yup, the rules on the video are ok. your extension shows 1.762 an the candle close almost coinside with the high, so ther's no way it could be lower than 1.414. But. Maybe you used a wrong drawing tool. On tradingview there'are 2 of them: one for drawing xabcd patterns and another for drawing cyphers. The first shows the c-point ratio as ab retracement, the second shows c-ratio as xa extension.
Reply
Lacin Alexander_Nikitin
Yes, i used XABCD pattern tool. Cypher tool is different you are right. But when you check the graphic by yourself X-A-X extension is btw 1.272 & 1.141. Thanks a lot for comments and information Alexander.
Reply
snapshot

Bat pattern also validates our cypher pattern in 4h graphic.
GL
Reply
Your B-point is not the highest point between A and C
Reply
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