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 failed
X - recent bottom
A - recent top
B - must touch 0.382 fib retracement and close BEFORE 0.618 of X-A. We have 0.463 - GOOD
C - must touch 1.272 fib extension and close BEFORE 1.414 of X-A. We have 1.367 - GOOD
D - nosedive required after C. Buy Entry - 0.786 retracement of X-C
We can see the price bounced in that area (the wick being much lower and touching X level. The pattern was close to being correct however the bears were too strong. If you were lucky - you could get a quick scalp.
Do Cyphers only work in sideways markets? Not in Bear/Bull markets?
I'll be following this up with some good Cyphers
Cypher patterns supposedly have 80% completion ratio. This one failed
X - recent bottom
A - recent top
B - must touch 0.382 fib retracement and close BEFORE 0.618 of X-A. We have 0.463 - GOOD
C - must touch 1.272 fib extension and close BEFORE 1.414 of X-A. We have 1.367 - GOOD
D - nosedive required after C. Buy Entry - 0.786 retracement of X-C
We can see the price bounced in that area (the wick being much lower and touching X level. The pattern was close to being correct however the bears were too strong. If you were lucky - you could get a quick scalp.
Do Cyphers only work in sideways markets? Not in Bear/Bull markets?
I'll be following this up with some good Cyphers
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.