Hi Guys.. Hope everyone had a profitable week.
Here on BHEL chart, it looks like Cypher will complete soon giving us an opportunity to get into short trade. Previous support near pattern completion gives additional confirmation on short entry. Cypher has low risk/reward compare to other harmonics but has higher winning percentage.
Bearish CYPHER Pattern on Shri Ram Transport and will break on downside. Stochastic on overbought and will have correction. So, its lead to fall some extent.
Short below - 936
Target 1 - 908
Target 2 - 890
target 3 - 870
Stop Loss - 980
Reward Points = 66
Risk Points = 44
It is been observed on the daily chart that the price action completes a bullish Cypher Pattern by reching 78.6% retracement level of (X-C) indicating a bullish move ahead.
It is been observed on the daily chart that the price action forms a bullish harmonic pattern called cypher pattern where the Leg D is reaching 78.6% retracement levels. Now it shall retrace back to 38.2% of CD leg. The pattern shall be validated unless it breaks below the stoploss placed at previous support levels.
Hi Guys !
Yes, going against the trend is catching the falling knife, but if you have the skills, there won't be any fear. From the Nifty chart we can clearly see that there is cypher within Gartley. I expect the cypher to give Gapup open today. If the cypher fails & support is also broken, we do have another potential Gartley completion around 8620's. Those...
Nifty may open Gap up right away bcos of Bullish cypher, but as per the overview post (Lets ride the waves), there is hourly close below triangle pattern but is it gonna start the fall ?? or it's just teasing the lower trendlines of triangle ? Let's see... Anyway if you look at this cypher risk vs reward its pure awesomeness...
Happy TradinG !
Sometime cypher gives inverse Risk:reward but worth it
Though we get few points in patterns, their success ratio are higher than most moving avg based techniques
Check your cypher ratio's n enter the trade
Prev.post ( Let's Ride the waves ) - still valid
I will be out today, so there won't be more post for the day, Sorry Guys !
Happy Trading !
We have cypher pattern (potential) in LT and the C to D leg is channeling right now. Even in the channeling we have 2 types - outerchannel (white) on current timeframe n innerchannel (red&whitelines which is 5min Intraday). So trade it as normal breakout trade but decide whether it's gonna be 15min or 5min check ur risks before entering the trade....