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I had a question regarding targets...wanted your feedback.
If we are to use the .382 and .618 of the C-D Leg as targets (Say for instance in a Cypher Pattern), then what happens when the D legs expands before it decides to retrace to its .382? In other words, the D leg is dynamic, it is not set, therefore wouldn't the targets be dynamic as well? How do you handle this?
here is the chart, i guess its is just a normal RSI divergence..i have difficulties to identify hidden divergence maybe because i do not know the correct definition of it.. Dont worry i am not trading live based on structure right now. trying my best to pickup some knowledge about structure.
Thank you so much for all your youtube videos (and thanks to Jason) I think i have seen them all twice now :)
Now i feel reddy to start backtesting patterns. And build my own strategy. (like you have been told me.... 1000 times :) )
Then i started with this pattern you showed us yesterday. But it wont fit my rules for an Cypher pattern.
The problem is the extension of A to B leg. The cypher patteren rules that i have found, says it may not extend more than 1.272% And this pattern hits the 1.672% extension. And then its not vallid?
Or do you simply use some other rules for Cypher?