EURCAD (Butterfly Pattern and Cypher Pattern) - 1h Chart

1 thg 6, 2018

Confirmations for Butterfly Pattern:
- A-B must touch 0.786, but cannot exceed X
- B-C touches 0.382, but sometimes goes further (does not exceed A)
- ABCD formation. D has to reach outside X and touch 1.272 or 1.618
- First TP at 0.618 (Fibo D-A)
- Second TP at 0.382 (Fibo D-A)
- Third TP back to where it all started at top

Confirmations for Cypher Pattern:
- A to B must touch 0.382 but cannot exceed 0.618
- B to C must touch 1.272 but cannot close below 1.414 (Trend-Based Fib Extension)
- C to D must touch 0.786 of X to C
- First TP at 0.618 of D to C (Fibonacci)
- Second TP at 0.382 of D to C (Fibonacci)
- Third TP would be back at support (point C of Cypher Pattern )

At this point I expect some type of consolidation at 0.786 for bearish movement on completion of our Cypher Pattern.
Good Trading. -1h Chart

12 thg 6, 2018

Đã hủy lệnh

First Tp was reached and went bullish after that