Alexander_Nikitin
Long

long opportunity on gbpusd

FX:GBPUSD   British Pound / U.S. Dollar
quite a good level to enter long using this cypher technic. I don't expect large moves, but we can see some kind of a retracement to the upside
✅ This pattern was found by MPS-v5.5 pattern recognition software: https://mps-trade.com

✅ The backtest of all patterns was peformed by MPS-v5.5: https://mps-trade.com/

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Comments

The rules for Cypher C-point are an extension above 1.272 of XA and closure below 1.414, so I'm afraid this is not a valid Cypher pattern.
+1 Reply
Alexander_Nikitin Nico.Muselle
For me the C point remains valid as long as it doesn't touch 1.618. I tested this rule and never violate it))
-1 Reply
Nico.Muselle Alexander_Nikitin
So it's a personal interpretation but not a true Cypher pattern ... OK ... I understand :)
+1 Reply
Alexander_Nikitin Nico.Muselle
May be. But I think Darren Oglsby (the inventor of cypher) treats cyphers the way I treat them. Jason Stapleton and Akil Stokes (good friends and collegues of Darren) surely treat cyphers that way.
-1 Reply
Nico.Muselle Alexander_Nikitin
Strange that you mention that ... I actually did a course from the people that you mention above very recently, and I can assure you that they don't trade any Cypher that closes above the 1.414 ... but hey, you seem to know better, you are the man with experience ...
+1 Reply
Alexander_Nikitin Nico.Muselle
A candle close is not that crucial. My tests showed that very often, we have a candle close beyond 1.414 on H1 timeframe and we don't have it on H4)). I included the results of cyphers that close beyond 1.414 and the probability remained the same. Honestly, I didn't tested all the currency pair, but I'm in progress))
-1 Reply
Nico.Muselle Alexander_Nikitin
As I said ... you might be trading a certain pattern but it's not a Cypher in this case as a cypher cannot close above the 1.414 extension. By the way, Jason very rarely trades patterns these days, except on Monday when Akil is doing the Live Room ... and Akil for sure does not trade it if it exceeds the 1.414 extension on closure.

You might be defining a new pattern here, congrats on that, I will be happy to see the results once you are finished backtesting, till then, your interpretation of the Cypher is even more random as my optimization of entry methods :)
+1 Reply
Alexander_Nikitin Nico.Muselle
you may think whatever you want, I don't care))
-1 Reply
Nico.Muselle Alexander_Nikitin
Thanks ! Freedom of speech and thoughts is something that I estimate very highly ;)
+1 Reply
Alexander_Nikitin Nico.Muselle
Why didn't you check, what I said about the candle close on H4? It's a very valid cypherhttps://www.
-1 Reply
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