It is long term idea. We can wait more than 2 weeks.
GL
Trade active
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Trade closed: stop reached
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Perfect loss!
Comments
Alexander_Nikitin
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The cypher is invalid because C-point close is higher than 1.414XA
lac1n
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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.
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.
Alexander_Nikitin
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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.
lac1n
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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.
lac1n
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Bat pattern also validates our cypher pattern in 4h graphic.
GL
Alexander_Nikitin
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Your B-point is not the highest point between A and C