Bullish Cypher Pattern
Hi, so here we have a good example of a Cypher pattern,
We had a new structure high, which is the X-A Leg -
Starting from that, we look for the 1.27 extension of this leg to spot the area it could go in case of a cypher pattern completion ( this area will be point C area, which is B-C Leg )
Then we run back to the 618 Fib. retracement to complete the A-B Leg, which makes here a good setup for a cypher.
Once the C point is reached and B-C Leg complete, we look for the X to C fib. retracement; we expect the price to reach the 786 fib level to complete the bullish Cypher pattern.
We had a new structure high, which is the X-A Leg -
Starting from that, we look for the 1.27 extension of this leg to spot the area it could go in case of a cypher pattern completion ( this area will be point C area, which is B-C Leg )
Then we run back to the 618 Fib. retracement to complete the A-B Leg, which makes here a good setup for a cypher.
Once the C point is reached and B-C Leg complete, we look for the X to C fib. retracement; we expect the price to reach the 786 fib level to complete the bullish Cypher pattern.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.