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Cypher pattern - Good Example #2

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
DISCLAIMER - Your money is not in danger but guaranteed to disappear if you follow my trades. These ideas and trades are mostly for my personal use as a journal, but I try to provide as much value as possible to the community

Cypher patterns supposedly have 80% completion ratio. This one worked flawlessly

X - recent bottom
A - recent top
B - must touch 0.382 fib retracement and close BEFORE 0.618 of X-A. We have 0.455 - GOOD
C - must touch 1.272 fib extension and close BEFORE 1.414 of X-A. We have 1.244 - NOT QUITE. If you are really pedantic with it, you may choose to ignore this one. In my book so far, it worked !
D - nosedive required after C. Buy Entry - 0.786 retracement of X-C

Look at that bounce - pattern could not have worked better (as long as you don't need the 1.272 point to be hit and can settle for a 1.244) The extra volume and RSI cross-over are bonuses. No point to measure - both 382 and 618 targets hit.
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