TradingView
Inca1382
30 ago 2017 12:25

Cypher pattern Long

Australian Dollar/U.S. DollarFXCM

Descrizione

Buy
Commenti
Cbrcelik
Stop
Alexander_Nikitin
It is not a cypher pattern. cypher's C-point should at least hit 1.272XA. your problem is that you use wrong drawing tool. you used "XABCD pattern" instead of "Cypher pattern". The C-point of "XABCD pattern" drawing tool shows the extension/retracement of AB leg and the D-point shows the extension/retracement of XA - leg, while the C-point of "Cypher pattern" drawing tool shows the extension/retracement of XA leg and the D-point shows the extension/retracement of XC- leg. Here's the screenshot: prntscr.com/gexvif
Inca1382
@Alexander_Nikitin,
That is relative.
Alexander_Nikitin
@Inca1382, nothing is relative whe talking about cypher. cypher is objective and has only one set of rules. whatever deviation turns it into some other pattern but not cypher: Look what your picture truly is:
Inca1382
@Alexander_Nikitin,
Only valid levels 76.6 / 88.6% retracement
Alexander_Nikitin
@Inca1382,
Akil Stokes, one of the creators of cypher pattern (He took part in testing it after Darren Oglsbee invented it) is registered here. You can always contact him (he tries to answer everybody). It is strange that you didn't do it till now... your rules aren't cypher's rules.

By the way, even if you don't know how to find Akil you can always search for cypher explanation here on TradingView: tradingview.com/ideas/cypherpattern/

I don't actually like the TradingView's explanation because it is not precise. (it is not said that the max limitation of B (0.618) and C (1.414) are only applicable to candlecloses but not to the candlewicks and that the D should always terminate past B)

What is drawn on your char is not a cypher.
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