There is quite good possibility that we will see this formation complete. There is 161.8 extension which might hold, also this level is 38.2 retracement of CD move of bigger CRAB formation.
There is again option that USD will push up till it reach 361.8 extension of BC move of this butterfly formation. That ...
it looks like the formation is complete like it should be. The D leg is right at 3.61 extension of BC move and 1.61 extension of X to A move.
On one our chart the double bottom formation has been formed also, that give us confirmation that strong trend might be over ...
Do not know if this pattern was already finished at 1.27 Fib extension of XA "criteria for take profits would match" . Or it might be finished right at this point at 1.61 Fib extension?!
happy trading :)
Today i was looking for end of creation of cypher pattern on NZDJPY pair. Looks like price already jump from 78,6 fib level from X to C leg.
thanks to ThomHall who made a great description of the patterns!
again me with my observations :) Today i saw this potential pattern. From C to the D leg I also spot strong impulsive wave which his 2.618 extension perfectly get along with end of pattern point D
comments welcome :)
hey guys, lately im trying to spot some of gartley ore cypher patterns. I draw one here and now i need your help and opinion..
now i know its not prfect but still i think i noticed many similar shapes who price at least came to the 38,2 Fib target from XC retracement ...