Hi All, I wanted to share this potential Bullish Cypher Pattern - this is an early post as there is not much room after we pass the B leg to post this for you to keep on your radar.
As always on screen Entry, Green is the standard 78.6% entry
Minimum Stops Red
Target 1 - 38.2% Retrace from C to D move - remember to adjust when we have D completion. And have your limit just below the 38.2% to ensure we reach target and take profit
Target 2 - 61.8% Retrace from C to D move - remember to adjust when we have D completion. And have your limit just below the 61.8%% to ensure we reach target and take profit
If price closes beyond 1.414% at the C leg pattern becomes invalid
Pattern is just valid here as we see the B leg touches the 61.8% but does not close beyond, and also the D completion is lower than the B leg - very important for a valid Cypher
Good Luck and happy trading
As always on screen Entry, Green is the standard 78.6% entry
Minimum Stops Red
Target 1 - 38.2% Retrace from C to D move - remember to adjust when we have D completion. And have your limit just below the 38.2% to ensure we reach target and take profit
Target 2 - 61.8% Retrace from C to D move - remember to adjust when we have D completion. And have your limit just below the 61.8%% to ensure we reach target and take profit
If price closes beyond 1.414% at the C leg pattern becomes invalid
Pattern is just valid here as we see the B leg touches the 61.8% but does not close beyond, and also the D completion is lower than the B leg - very important for a valid Cypher
Good Luck and happy trading
