Hi, just wondering if what i have done was correct. Just recently only started to learn about Fibonacci.
If i'm not wrong, but do correct me if i'm wrong, Point C will the the point where I have to open my position at that Price, while Point D will be the point where I have to Take Profit.
First Step will be Fib Retracement of XA to find the 0.618 Second Step will be using the Fibonacci Extension of XA to find the (1.272-1.414) Third Step will be Point D at 0.786
Question: I am not sure if the Fibonacci Retracement of XA, the Point of B must be between 0.382-0.618 or it just have to reach somewhere 0.618?
Comments
Technician
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Hi there..
The completion of the pattern is at point D, which is either the long or short entry point. You can learn more about harmonics here:
harmonictrader.com/
Go to "Patterns" in the navigation menu.
Good luck
HamedAghajani
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In addition to Technicians suggestions, here are my comments on the current Chart;
fatraphael
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So that means that we should look for other currencies trades instead of this since it is not able to be have a full Cypher pattern right?
HamedAghajani
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The Cypher would have potentially completed in point D. If the condition materialized, you should entered this marker short, Targeting 0.382 and 0.618 pull back of CD leg. But you never get there. So forget this market and go and study in depth a bunch of successful harmonic patterns either from that website or Scot Carney's books harmonictrader.secure-mall.com/shop/ AND this book profitbesar.com/mengunduh/E-Book/Pesavento.pdf
The completion of the pattern is at point D, which is either the long or short entry point. You can learn more about harmonics here:
harmonictrader.com/
Go to "Patterns" in the navigation menu.
Good luck