We have a Bearish Cypher pattern just formed, Short position triggered due to price entered PRZ, Short Target to 32.80 and 30.80 Stopped level at 38.50
Trade geschlossen: Stop wurde erreicht
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Kommentare
Alexander_Nikitin
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Well, it's not a cypher. But still... Thank you for your idea. I will buy it here))
emiltw
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thank you for the comment, can i know why its not cypher? i'm still learning thou. =D
i will be glad if you can tell me
Alexander_Nikitin
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Because it doesn't meet the cypher rules.
tbuckle
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Why not give some specifics?
emiltw
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The pattern do fit the requirements of cypher, can you give more specific explanation?
Alexander_Nikitin
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The Cypher pattern (discovered and defined by Darren Oglesbee) is a 4-leg pattern. In a perfect Cypher pattern the AB leg should be minimum a 0.382 retracement and the close should not exceed the 0.618 retracement of the XA leg. The C point should exceed the 1.272 extension and should not close beyond the 1.414 projection of the XA leg, and the D point should be a 0.786 retracement of XC.