EURJPY 15min Day Trade Cypher Pattern

FX:EURJPY   Euro / Japanese Yen
665 5
For those of you who trade advanced pattern formations on the lower time frames, there is a potential Cypher setting up at 122.75 on this pair.

Quite a bit of consolidation this morning so could be a busy Day trading session in the Live room!

Good luck Traders!
Nicely spotted. Clearly a wealth of experience to notice such patterns.
Hi there,

Just curious and knowingly ignorant, so please have me excused, but aren't these patterns, in this case the Cypher, based on Fibonnaci ratios?


+1 Reply
JRFreeze kennethmundt
@kennethmundt, yes i believe they are the fibonacci ratios of extensions and retracements
@JRFreeze, Okay, great. At least I'm not completely off. But why do you call this a Cypher pattern then? I don't see any Fib levels in the pattern?
Excellent trade, should be used as "how-trades-should-be-played".

Thank you @J_Graystone for sharing
+2 Reply
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