GBPUSD -> Bat->Cypher->Bat, arguments to go long
Hi all,
GBPUSD looks quite interesting in terms of harmonic patterns.
Generally patterns are stronger if these are confluenced with strong S/R zones.
Regarding Cypher - tool from tradingview does not work well for this, you need to use fibonacci extension tool, starting from A to X (not from X to A), then if 127.1% is confluenced with top (or bottom) - you can think about this potential pattern.
More about Cypher -> simplychartpatterns....rns/cypher-patterns/
GBPUSD looks quite interesting in terms of harmonic patterns.
- There is really big bat (purple), which was complete (at least to B point - see purple line).
- There is also Cypher pattern (blue), which is ongoing.
- And there is also another pattern - potential bat (red) - but everything depends on what price will do.
Generally patterns are stronger if these are confluenced with strong S/R zones.
Regarding Cypher - tool from tradingview does not work well for this, you need to use fibonacci extension tool, starting from A to X (not from X to A), then if 127.1% is confluenced with top (or bottom) - you can think about this potential pattern.
More about Cypher -> simplychartpatterns....rns/cypher-patterns/
