Confirmations for Cypher Pattern:
- A to B must touch 0.382 but cannot exceed 0.618 (on this case B is at 0.5)
- B to C must touch 1.272 but cannot close below 1.414 (Trend-Based Fib Extension)
- C to D must touch 0.786 of X to C
- First TP at 0.618 of D to C (Fibonacci)
- Second TP at 0.382 of D to C (Fibonacci)
ABCs inside left leg gave bearish impulse for ABCD pattern iniciation, so we can get a clear bullish impulse towards D completion at 0786 for our Cypher Pattern.
I expect price to be bullish until that point (0.786) for Cypher Pattern confirmation and sell.
Good Trading.
- A to B must touch 0.382 but cannot exceed 0.618 (on this case B is at 0.5)
- B to C must touch 1.272 but cannot close below 1.414 (Trend-Based Fib Extension)
- C to D must touch 0.786 of X to C
- First TP at 0.618 of D to C (Fibonacci)
- Second TP at 0.382 of D to C (Fibonacci)
ABCs inside left leg gave bearish impulse for ABCD pattern iniciation, so we can get a clear bullish impulse towards D completion at 0786 for our Cypher Pattern.
I expect price to be bullish until that point (0.786) for Cypher Pattern confirmation and sell.
Good Trading.
