An almost perfect pattern is very, very close to completion and it's a beauty, textbook cypher pattern.
Why ? AB leg retraces to 0.382 of XA-leg BC falls perfectly in between 1.272 and 1.414 CD completion at 0.786 has perfect Fibonacci confluence (see chart)
On top of that we have a previous support level that has already proven resistance in the past just above it.
As with most Cypher patterns, the RR ratio for TP1 is inverted (risk is bigger than potential profit), but as Cypher patterns in general are quite successful, it is definitely worth it. TP2 has an approximate 1.5 RR ratio.
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Komen
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TP1 reached, stops can now be moved to break even - experience a risk free trade.
The market never sleeps, so new opportunities will come along ! :)
arturt
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great job Nico. i didn't expect that to be that fast. :)) amazing job with that pattern, easy to watch but difficult to make:)
Nico.Muselle
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Thanks buddy ... :)
I did not expect it to be that fast either with the price action we saw during the day today ...
arturt
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exactly, it looks like surgical operation:)
Nico.Muselle
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Luckily nobody's life is depending upon it :D
arturt
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lol
Shifattey
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Miss it
Nico.Muselle
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No worries, there are always other opportunities. :)
KamalFX
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Nice trade Nico, I managed to get in this one too. Reading the comments above clearly shows the importance of us trusting in our own analysis as trading isn't a team sport haha.