EURUSD Potential Bullish cypher after correction of CD leg
Cypher Pattern – Rules
The Cypher pattern starts with a market price that establishes the X and A points. Once this leg is determined, the pattern evolves.
Point B retraces to 0.382 – 0.618 Fibonacci level of the leg XA
Point C is formed when prices extend the XA leg by at least 1.272 or within 1.130 – 1.414 Fibonacci extension level
Point D is formed when it retraces 0.782 Fibonacci level of XC
Point D is also where prices are expected to reverse
Targets are determined as 0.382 and 0.618 Fibonacci retracement levels of the CD leg
Stops losses are placed a few pips below or above the high or low of point X
The Cypher pattern starts with a market price that establishes the X and A points. Once this leg is determined, the pattern evolves.
Point B retraces to 0.382 – 0.618 Fibonacci level of the leg XA
Point C is formed when prices extend the XA leg by at least 1.272 or within 1.130 – 1.414 Fibonacci extension level
Point D is formed when it retraces 0.782 Fibonacci level of XC
Point D is also where prices are expected to reverse
Targets are determined as 0.382 and 0.618 Fibonacci retracement levels of the CD leg
Stops losses are placed a few pips below or above the high or low of point X
Trade fermée: cible de profit atteinte
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.