Cypher advanced formation is the most accurate formation among all advanced formations. It is about 70% accurate if identified correctly. The ONLY correct way of identification is as follows:
1. B-point must touch 0.382XA but should never close beyond 0.618XA
2. C-point must touch 1.272XA but should never close beyond 1.414XA
3. D-point is 0.786XC and it must be beyond B-point.
As you see frome the rules above the are no max limitations for B and C candle wicks. Whatever ratio will be correct if rule #3 isn't broken.
Do not trust these types of explanations: sr-analyst.com/HarmonicHelp/cypher_pattern.htm
Or this: forextraininggroup.com/a-guide-to-harmonic-trading-patterns-in-the-currency-market/
Don't know why do people believe this kind of stuff and don't even make an effort to contact the creators of cypher - Tradeempowered guys.
//|+--------------------------------------------------------------------------------------------------------------+
//|This pattern was found with PatternSearch software
//| you can watch the sample video here: youtube.com/watch?v=beZhTtW1diU
//|+--------------------------------------------------------------------------------------------------------------+
Best regards, Alexander Nikitin.
A professional trader, programmer and a trading coach.
1. B-point must touch 0.382XA but should never close beyond 0.618XA
2. C-point must touch 1.272XA but should never close beyond 1.414XA
3. D-point is 0.786XC and it must be beyond B-point.
As you see frome the rules above the are no max limitations for B and C candle wicks. Whatever ratio will be correct if rule #3 isn't broken.
Do not trust these types of explanations: sr-analyst.com/HarmonicHelp/cypher_pattern.htm
Or this: forextraininggroup.com/a-guide-to-harmonic-trading-patterns-in-the-currency-market/
Don't know why do people believe this kind of stuff and don't even make an effort to contact the creators of cypher - Tradeempowered guys.
//|+--------------------------------------------------------------------------------------------------------------+
//|This pattern was found with PatternSearch software
//| you can watch the sample video here: youtube.com/watch?v=beZhTtW1diU
//|+--------------------------------------------------------------------------------------------------------------+
Best regards, Alexander Nikitin.
A professional trader, programmer and a trading coach.
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.