CEAT - Playing with Cypher Pattern -Extended X-Factor Trendline

423 9
It is not a cypher bookish pattern as D-leg should be retrace only 78.6% of XA leg but in present case it has extended to 130-140% of XA.

I am playing with X-factor Trendline which passes exactly at the top of 1472 recent top where possible D-leg can end.

2 points to confirm a trendline & 3points to draw a valid trendline is what technical analysis teaches- so here is the application with some cypher juices modified.

Trading Strategy
Once Ceat starts falling below 1418- recent low -we will look to sell. Once pattern activates -recent high below 1472 high should be put as stops for lower targets.
Trade active: 15:15 Hrs 17th April2017

Pattern activates only when previous low@1418 gets broken on the downside.
Trade closed manually: 14:35 Hrs 18th April2017

Last Price@1446

Closing The Update- Call did not activate below 1418.
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Bro with all due respect, its not cypher...
@InsiderB, Let it be - I said it is not in update - It is my pattern - doing research for 1000+ in process & patent rights.
AbhishekHSinghCMT AbhishekHSinghCMT
@AbhishekHSinghCMT, 1st line - It is not a cypher.
@InsiderB, 1st line - updated it is not a cypher.
InsiderB AbhishekHSinghCMT
@AbhishekHSinghCMT, okies, but its just a variation of shark pattern. Anyways all the best for your research & patent :)
@InsiderB, Shark Pattern also D point bookish retraces max 113% which is the limit n upside so there is no pattern that's why I said I am working on such patterns as a research.
InsiderB AbhishekHSinghCMT
@AbhishekHSinghCMT, cool, thats why I told All the Best buddy !
Thanks for clear view on Ceat.
@AMBRISH, Welcome
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