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Stockman85

Federal Bank: CYPHER Pattern on Daily Chart

Penjualan
FED BANK (NSE:FEDERALBNK)  
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NSE:FEDERALBNK   FED BANK
Harmonic Patterns Cypher
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harmonicpatterns cypherpattern
The analysis is only for educational purpose.

CYPHER Pattern Rules

  • Point B retraces to 0.382 – 0.618 Fibonacci level of the leg XA Condition satisfied
  • Point C is formed when prices extend the XA leg by at least 1.272 or within 1.130 – 1.414 Fibonacci extension level Condition satisfied
  • Point D is formed when it retraces 0.782 Fibonacci level of XC -close to .782 Condition satisfied
Point D is also where prices are expected to reverse
RSI also supports the weakness in price.

Target : Targets are determined as 0.382 and 0.618 Fibonacci retracement levels of the CD leg
Ideally Stops losses are placed a below or above the high or low of point X.

T1 = Rs 84.5 can be achieved.
Trading ditutup: target tercapai
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