USDCAD: WARNING! A Mistaken Cypher Pattern!
4 days ago, I published 2 advanced patterns I saw on this pair: 1 bearish Cypher and 1 bearish Gartley.
Prices are now moving strongly towards filling the cypher so I feel the need to issue this warning:
Don't trade that "cypher" because it is NOT a cypher! Trade it at your own risk! If you trade it, you are not trading a Cypher pattern!
I had misidentified that pattern as being a cypher but in fact, the C point DOES NOT reach the minimum required 1.272 extension as is required to be a cypher! However, the Gartley is still valid.
My apologies to my readers and my followers. If I am wrong, I will admit I was wrong! Which I hope is not often!
Prices are now moving strongly towards filling the cypher so I feel the need to issue this warning:
Don't trade that "cypher" because it is NOT a cypher! Trade it at your own risk! If you trade it, you are not trading a Cypher pattern!
I had misidentified that pattern as being a cypher but in fact, the C point DOES NOT reach the minimum required 1.272 extension as is required to be a cypher! However, the Gartley is still valid.
My apologies to my readers and my followers. If I am wrong, I will admit I was wrong! Which I hope is not often!
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Mailing list: bit.ly/2iNieEY
Facebook Group: facebook.com/efxselect
Twitter: @andrewefxselect
Website: efxselect.com
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