Best Forex Chart Patterns
If you’re trading a bullish cypher pattern (as in the example below), place your stop loss at least 10 pips below the low of X. Upon the price reaching the 78.6% retracement level at point D, the bearish Cypher pattern is considered complete, and a price decline is expected. Upon the price reaching the 78.6% retracement level at point D, the bullish Cypher pattern is considered complete, and a price rise is expected. Lt’s now discuss some of the more intricate rules for correctly classifying…