forex trading - CYPHER PATTERN: how to identify the CYPHER pattern

"Euro pound 1 hour chart, we actually had a cipher pattern hit this morning and it also came up to hit profits within a couple of hours of hitting our entry."

"As you can see here, we came up into our 886 retracement, the D point of our BAT pattern, and quite easily turned over to hit targets within the first couple of hours of being in the trade."

"Earlier this morning, that hit. And as you can see, if I pull retracement from C all the way down to D, came up to quite easily hit targets at the 382 retracement and targets and stops for the cipher pattern."

"Here on the dollar Swiss five-minute chart, we have a cipher pattern setting up. And the cipher pattern comes in from this X leg down here. This impulse leg from X to A is a 382 retracement without closing below 618. And then after that, we need a 127 extension from X to A. So we take our extension tool X to A. back down in and as we see this does break above the 127 extension without closing above the 1414 extension. So take our triangle tool and this is what this cipher pattern looks like down here to the 786."

"And as you can tell this cipher pattern is already completed but has not yet come up to hit targets. So, what I'm going to do is place a limit order down at the 786 right here and try to see if this market can come back down and retest this level before f before going up and hitting targets. Targets will be at the 382 retracement and stops will be just below X."

"So, there we go, guys. We've been filled on the dollar Swiss cipher pattern here. So, the next step I'm going to take is go ahead and place my stops and targets. Stops right down here and targets right up here. And we will see how this trade plays out right now. Bouncing around around the entry and hopefully we'll rally up a bit and come up here and hit targets."

"As you can see, guys, a little more than halfway to targets on this cipher pattern on the dollar Swiss. And what I really like about what the dollar Swiss did at the cipher pattern entry is all of these really long candle wicks we put in right at the cipher pattern entry. And that makes me feel pretty good about this trade."

"All right. So, we've got within one or two pips here of hitting our profit target. So, what I'm going to do is just take my stop loss here and move it up to break even so that I know I'm in a risk-free trade. Here we go, guys. shot over just in time to see that we have actually hit targets on the dollar Swiss cipher pattern here. And this is just another live example of a successful cipher pattern. Put a little money in the bank for us and I hope you enjoyed it."

"I'll be coming out with a tutorial on the Gartly pattern here pretty soon. So, you'll definitely want to subscribe so you get alerted when that video arrives."