i'm not an analist, recently discovered the Cypher pattern indicator, and after trying it on the chart it seems it has met all fibonacci points a Cypher require, except the last point (D) still a long way to go.
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AB= 0.382 to 0.618 retracement of the XA swing leg;
BC= extend to minimum 1.272 and maximum 1.414 of the XA swing leg;
CD= retrace to 0.786 of the XC swing leg;
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made this cypher a litle bit after the (A) point and for now is following...
this is just a possibility...I would say less than 50% possible...
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AB= 0.382 to 0.618 retracement of the XA swing leg;
BC= extend to minimum 1.272 and maximum 1.414 of the XA swing leg;
CD= retrace to 0.786 of the XC swing leg;
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made this cypher a litle bit after the (A) point and for now is following...
this is just a possibility...I would say less than 50% possible...
Trade chiuso: obiettivo raggiunto:
i dont know if it is still a cypher , but the target is reached ,a bit later than on my chart, but still...