BBFX
Long

NZDUSD.....H4..... Bullish SHARK

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
57 2 0
When is a CYPHER not a CYPHER?

When it is a SHARK!! :-)
Since you asked ~~~~~~
I call it a cypher with these conditions:
1 - A to B must touch the .382 but not touch the .500
(the closer to the .382 the greater the success it seems)
2 - Pt C must touch the 1.272 of X to A and not go beyond the 1.414
(the closer to the 1.272 the greater the success)
Just about anything else can be a valid Shark as A to B is not really qualified
that I'm aware of, however, it seems to me that the better Sharks
have a 1.13 fib ext for Pt C and a .382 A to B
The target for me is usually .886 unless A to B is deeper than .500
or Pt C is closer to 1.618
That's my rules . . . what do you think ?
Thanks for your thoughts !!!

Reply
BBFX dojitrader
Thanks for sharing dojitrader. My rules are similar to yours for CYPHER, except I dont mind a 61.8 of A-B for C. I find that many CYPHERS get busted because they were actually SHARKs. I especially think along the lines of waiting for a SHARK if the FE161.8 of C-B lines up with the 1.13 of C-X. I hope I said that correctly!! I will get a cup of tea first, then see againif I made any sense!! :-)
Reply
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