Hi All, I wanted to share this with you explaining Cypher Pattern.
On the left are steps required for valid Cypher, and the right Pane is the Stops and Targets
First I will explain the numbers I have noted on the charts, this is a standard procedure I follow
1. Recognized Structure - Potential X to A leg
2. A Leg is now formed
3. B Leg and lets see how far...
1) AB movement should be 1.13 to 1.618 but not more than 1.618 extension of XA LEG.
BC movement should be 1.618 to 2.24 extension of an AB LEG
CD movement should be 0.5 retracement of BC LEG
2) Stop loss: It varies but I prefer few pips below 61.8 retracement of CD
3) Take profits : It varies too But I prefer 38.2% and the 61.8%.
Entries might be done with a...
iMPULSE LEG:
Wave 2 = 61.8% of wave 1 (Prices usually do not retrace more than 61.8% of the wave 1 gains;
Can never exceed the start of wave 1);
wave 3 = 161% ext of wave 1 (can never be the shortest impulse wave);
wave 4 = 38.2% of wave 3 (can never overlap wave 1 );
wave 5 = wave 1
CORRECTiON:
Wave A = usually around the 50% or 61.8% of wave...
Hi Traders,
After more positive feedback received from the Gartley & Bat Pattern explanation, I have drawn the final illustration explaining my interpretation of the Cypher Pattern
For those who have not yet seen the explanation for the Gartley or Bat Pattern I have attach the link in the comment section below.
Above Is an illustration of a complete Cypher...
Hi Traders,
After the very positive feedback received from the Gartley Pattern explanation, I have drawn another illustration this time explaining my interpretation of the Bat Pattern
For those who have not yet seen the explanation for the Gartley Pattern I have attach the link below.
Above Is an illustration of a complete Bat Pattern and the rules and ratios...
Hi All, I recently have been asked to publish this diagram for executing a 2 target order.
I have labeled the diagram with order sequence in a perfect world scenario. Steps below relate to numbers on chart
I am not telling you this is how everyone does it and this is only based on the questions I have been asked, every strategy has its own order entries stops...
Hello, everyone. Welcome back to another edition of "thoughts about bat pattern". Today we'll continue discussing bat pattern types. We'll look at SNSI and SFSI types. They are very similar to HSNSI and HSFSI I talked in my last edition:
As you see the difference is only in XA leg.
With that being said let's skip to some statistics.
As usual I will first remind...
Hey, traders. Welcome back to another edition of "thoughts about BAT pattern". Today we'll continue to discuss bat pattern types.
We already know about Four types:
HSNSP see it here:
SNSP see it here:
HSFSP see it here:
SFSP see it here:
These four have two common features. Their CD leg is not interrupted by a retracement more than 0,382AB and their...
Hey, traders. I’m back and we have another edition of “Thoughts about Bat pattern”. Today we’ll continue discussing bat pattern types. I’ll talk about HSFSP and SFSP types.
First, I will remind you average success rate of bat pattern. One has this rate if he trades EVERY bat he can find. As usual, three pairs for illustration:
On eurusd it is 53,52%, gbpusd –...
Welcome back, traders. It’s Wednesday and we have another edition of “Thoughts about Bat pattern”. Today we’ll continue discussing bat pattern types. Today we’ll talk about SNSP type.
SNSP bat type is the most perfectly looking bat type.
Let’s decode the name. “S” – XA is not interrupted by a deep (at least 0,382AB) retracement. “N” – BC is straight. “S” – A and C...
Welcome back, traders. It’s Wednesday and we have another edition of “Thoughts about Bat pattern”. Today we’ll continue discussing bat pattern types. Or… If we treat bats a vivid creatures I’d better say species)).
In my last edition I told you mostly how I discovered types but not about the types themselves. I got lots of feedback and messages asking me to...
Here on the GBPUSD im getting closer to my short orders being filled and the butterfly pattern completing. stops for me go just above the 1.414 ext and target is the .382 retrace of the A to D-leg.
Butterfly rules:
1= Atleast a .786 retrace of the X to A- leg but cannot break X.
2= Atleast a .382 retrace of the A to B-leg and can go past .382 just cannot break...
I hope it helps those like me who have trouble finding the balance in analyzing these ratios.
This ratios are mostly suggested from tradeempowered professionals. (at least supposed)
The Harmonic Pattern Butterfly is closely related to the Gartley 222 pattern with the main difference being that the Butterfly pattern’s CD extends beyond the XA leg. The Gartley Butterfly pattern is also identified by the classic ‘M’ and ‘W’ patterns.
The Butterfly pattern was one of the many harmonic patterns developed by H.M Gartley which were then fine tunes...
1. Find the point X at the bottom and point A at the top of a strong bullish trend.
2. 1st Retracement is not higher than the 61.8% of point X.
3. Point C should be confirmed at the 113% to 161.8% retracement area of A.
4. Point D should be confirmed at the 161.8% to 224% retracement area of B.
4a. Point D should be confirmed at the 88.6% to 113% retracement...
"The Harmonic Pattern CRAB is yet another discovery by Scott Carney and is identified by its long stretching swing points. In the crab pattern the PRZ level at swing/pivot point D is overstretched and shoots beyond the initial swing/pivot point of X. This is the main key difference between other harmonic patterns. The crab pattern, while easy to identify requires...
TIP #3. This tip is mostly connected with the rules. You don’t need to invent your own rules, because all rules are already invented. You just need to choose a set of rules that suits best to your personality. How can you know what rules suit your personality? Do backtesting. Scroll the chart back in history and trade the Market using this set of rules as if real...
