FX:USDCHF   U.S. Dollar/Swiss Franc
49 3 0
looking for 61.8% of this bearish cypher
What am I missing, especially with regard to %R ? It looks to me that the overbought condition of the previous rally has been
relaxed enough to begin another rally. What is the meaning of the area in %R that you have circled ?
(are you sure you want to call this a cypher with the D leg terminating well below .786 Fib ?
Reply
I use %R has entry point when cross the first time sell at -80 and buy at -20, I consider it and overbought condition after at least two or tree cross back and forth -80 level and ,most important, after a divergence ( the green line are RB divergence indicator), in this case the %R just cross -80 for the first time..is just my way I used %R over the past ..about the cypher I veryfed this condition and looked to me right but I may be wrong
http://www.google.it/imgres?imgurl=http://cdn3.traderslaboratory.com/forums/attachments/270/37216d1381906905-new-patterns-harmonic-traders-5.jpg&imgrefurl=http://www.traderslaboratory.com/forums/forex/17513-new-patterns-harmonic-traders.html&h=358&w=843&sz=40&tbnid=9dq55qGcsYJdIM:&tbnh=90&tbnw=212&zoom=1&usg=__iuN93ud0j9-b1TdfpRVBRvOcUwU=&docid=nvhMy19FhBsIbM&sa=X&ei=GsuMUpySAa3y7AbxyYHIDQ&ved=0CDQQ9QEwAA
Reply
Windwaker PRO Windwaker
yes that's not a cypher really, I'm looking for some books or website to learn cypher, something like Scott Carney on gartley, bat etc, do you suggest anything? thanks
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