Since March 18 2014 FX:XAUUSD is experiencing a down trend corrective structure. It completed a Cypher Pattern lately. Although it had a little breakout on 8 Feb and 9 Feb, it went back as well.
Coincidentally, the end of Cypher Pattern and the upper of the Corrective Structure are both around 1190. XAUUSD could breakout again to up trend or go back to down trend.
As the method of Cypher Pattern , it should decrease.
B-point should never close beyond 61,8% XA, C-point should be at least 127,2% XA, D-point should be 78,6%XC, D point also should complete beyond B-point. None of these requirements are met in your drawing. it is not a cypher at all.
Thanks for your contribution. I think the main problem is the high price of B point. If the B point was lower, D point would met the requirement. As this link (https://www.tradingview.com/chart/cypherpattern/) said, C point should be a 1.130 to 1.414 projection of the XA leg, which makes C point met the requirement.
These rules are completely wrong. Contact Akil Stokes here (Here's a good friend of Cypher pattern inventor - Darren Oglsbee) for clarifying the rules. I will contact moderators to delete this post or to mark it as ivalid or false.