Cypher Completed. Watch Price Action
Updated
Hi Traders,
After a great return of profit this week on the USDJPY, we may now be preparing for a down trend after the completion of the Cypher pattern. Watch price action @111.245.
Target:
T1@ - 38.2% - 113.263
T2@ - 61.8% - 112.655
Rules for this Cypher:
CYPHER
Measure XA
Find:
Point B
At least 38.2% XA
(must close below 61.8%)
Point C
At least 127% XAX
Fib Retracement
(must close below 141.4%)
Point D
78.6% XC
Profit
38.2% CD
61.8% CD
After a great return of profit this week on the USDJPY, we may now be preparing for a down trend after the completion of the Cypher pattern. Watch price action @111.245.
Target:
T1@ - 38.2% - 113.263
T2@ - 61.8% - 112.655
Rules for this Cypher:
CYPHER
Measure XA
Find:
Point B
At least 38.2% XA
(must close below 61.8%)
Point C
At least 127% XAX
Fib Retracement
(must close below 141.4%)
Point D
78.6% XC
Profit
38.2% CD
61.8% CD
Trade active
Comment
T1 Reached. Moved stop loss to 0.
Waiting for T2 on this pair.
Good luck all.
Trade closed: stop reached
SL 0. Market jumped and closed at breakeven.Disclaimer
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