emiltw
Short

Short OIl

FX:USOIL   Crude Oil (WTI)
946 9 14
We have a Bearish Cypher pattern just formed,
Short position triggered due to price entered PRZ,
Short Target to 32.80 and 30.80
Stopped level at 38.50
Trade closed: stop reached

Related Ideas

Well, it's not a cypher. But still... Thank you for your idea. I will buy it here))
Reply
emiltw Alexander_Nikitin
thank you for the comment, can i know why its not cypher? i'm still learning thou. =D
i will be glad if you can tell me
Reply
Because it doesn't meet the cypher rules.
Reply
tbuckle PRO Alexander_Nikitin
Why not give some specifics?
Reply
emiltw Alexander_Nikitin
The pattern do fit the requirements of cypher, can you give more specific explanation?
Reply
The Cypher pattern (discovered and defined by Darren Oglesbee) is a 4-leg pattern. In a perfect Cypher pattern the AB leg should be minimum a 0.382 retracement and the close should not exceed the 0.618 retracement of the XA leg. The C point should exceed the 1.272 extension and should not close beyond the 1.414 projection of the XA leg, and the D point should be a 0.786 retracement of XC.
Reply
Alexander_Nikitin Alexander_Nikitin
D-point should also exceed B.
Reply
Your C-point is less then 1,272XA extesion. https://www.tradingview.com/chart/cypherpattern/. Also contact Akil Stokes here. His team invented cypher.
Reply
emiltw Alexander_Nikitin
Okay, got it, thanks for the correction, =)
Reply
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