The Cypher was discovered by Darren Oglesbee and though it is technically an advanced pattern formation, it is often associated with and traded alongside harmonic patterns. It has specific Fibonacci measurements for each point within its structure. The B point retracement of the primary XA leg lies between 0.382 and 0.618, the C point should be a 1.272 to 1.414 projection of the primary XA leg and the D point should be a 0.786 retracement of XC. The first target would be the 382 retracement of CD and the second target the 618 retracement of CD.
The stop would go beyond the next structure support / resistance beyond the X-point. Conservative traders may look for additional confirmation before entering a trade, for instance an aligning RSI value or a specific candlestick pointing at a reversal. The Cypher Pattern can be either bearish or bullish. TradingView has a smart Cypher Pattern drawing tool, created especially for this popular pattern. Please note that the ratio line between the A and C points represents how far C extended the XA leg. The ration line between the X and D points represents how far D retraced the XC leg.
VEDL in its ups and downs this year, completed the Gartley. Currently testing a sup/resistance line with a lot of dojis and hammers and stars.. If it happend to reverse, it can complete the Cypher. But it will take a few too many months.
There is a bullish cypher which is hiding in the cloud.
Risky Traders
Buying in the range 595-597 with strict stops below 595 for target 610-615 & if any resistance seen in 615-617 -can be seen as selling opportunity for target 600-590 -580 later
Safe Traders
Buying above 607 for 610-615 & if any resistance seen in 615-617 -can be seen as selling opportunity ...
GBPJPY pair forms negative bias to go down and stochastic level also shows that overbought level
and another confirmation of Bearish divergence makes the pair will down today & tomorrow
The C point reversal is not yet complete and confirmed, unless which happens, this structure is impossible to be formed
Although the C point has been halted at support levels...and with a bullish divergence at hand, there might be a possibility..
Disclaimer... not an investing/trading recommendation
A bearish cypher in formation along with extreme bearish harmonic impulse @886..
The patterns are wonderfully following pitchfork price magnet theory..
The potential reversal zones of the bearish cypher perfectly matches the longer term Crab structure which propelled this upmove(shown later)
And both the PRZ and the Limit for the extreme brearish harmonic impulse ...
Bullish cypher with bullish divergence, a sweet spot for a blast..
Also the D point is cushioned in ichimoku kumo clouds and presently at pivot..
The uptrend's resistance is expected to be at the outerline of the pitchfork and 0.618CD of the cypher pattern, which coincides..
But i expect there will be a bit of correction i the lines of 10 to 15 percent after ...
BITFINEX:BTCUSDCOINBASE:BTCUSDBITSTAMP:BTCUSD
The target and stop are just outside the 7724-8838 backet..
if 8838 is breached much upper, then not only breaks the downtrendline will break but also invalidates the cypher, so a tight stop above that ..
The Rsi bearish divergence confirms the present B point reversal.....
Disclaimer..... not at all an investing/ ...
This is not a single impulse downside that i expect, but since harmonics dont give impulse waves, i wont comment on that, but i expect a reversal at 0.618DC which is the take profit zone for the cypher n a support... on the shorter term, i expect a small support to form at 8450 around, which is the 0.382DC of the cypher (not marked in the diagram..)...
This is a ...
NSE:SBINBSE:SBIN
The Reverse symmetrical triangle about the break after no support from weekly S1 level
The next support as mentioned in the weekly also corresponds to be between 0.786 and 0.886 of the Fibonacci series ABC, also corresponds to be near the 618 or outer ML of the pitchfork..
Following the price magnet principle, the action is expected to go back ...
NSE:MCXBSE:MCX
This analysis is not time dependent
1.A bullish cypher in formation of the CD downleg
2.The fibo wedge arc 1.618 also points to limitation of the downtrend
3.The downtrend is expected to halt that the weekly support S2
4. the bullish cypher is expected to push the prices up and the initial targets are mentioned according to 0.618DC of the cypher ...
