Unified Formation setting up here. Wait for the entry between D point completion and pattern invalidation level. This is an A* trade for me - meaning I will be taking 2% risk.
Based on my backtesting (2005-2018) this pattern has an average of:
- 61% Win Rate
- 1.35 R:R
- 3.15 Profit Factor (Risk $1 to get back $3.15)
- 10.9 Recovery Factor (Draw downs are...
Bearish Cypher completion here. Limit order at the D point with initial stops ATR based. Trail stops as price moves lower until they are hit.
Based on my brokers quotes the C point didn't actually hit the 1.272 level and therefore, you could class this as an invalid Cypher trade. I will be taking the trade however, as it was 0.5 pips away from hitting the 1.272...
As shown on the chart, wait for an entry reason between the D point and the invalidation level. Targets at the .382 & .618 C - D point. Re-stretch fibs to price extreme if price continues to move higher