pipstrading
Long

Gold, completion of wave 3?

FX_IDC:XAUUSD   GOLD / US DOLLAR
236 6 8
Gold             , completion of wave 3?
glad we have roughly a similar ending point.. mine a bit lower:
XAUUSD Gold massive bullish cypher pattern on daily chart
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@PHL, i think it is too early to call this a bullish Cypher. the point C also exceeded 1.618 significantly. isnt it a warning sign to you?
+1 Reply
PHL pipstrading
@pipstrading, what 1.618 do you mean? Point C closely touched the 1.272 extension (of XA) which qualifies it as a cypher.
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@PHL, oh I read it from your chart and it showed 1.68+. ok. if 1.27 + then it looks right. There are XABCD and Cypher drawing tool in tradingview. I guess you have chosen XABCD and that's why the patten ratio did not show properly
+1 Reply
PHL pipstrading
@pipstrading, ah i got it :) yes I always use XABCD as I just need an illustration.
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@PHL, it looks like your cypher may come true
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