Cypher Harmonic Pattern: How to Trade it Like a PRO [Forex Chart Patterns]

The Cypher harmonic pattern is a technical analysis formation indicating a price-action reversal. The pattern was discovered by Darren Oglesbee and is known as a relatively advanced and accurate pattern formation. In structure, the Cypher pattern is similar to the butterfly harmonic pattern; however, the Cypher is slightly different from other harmonic patterns due to its unique Fibonacci ratios.

In this video, we’ll teach you how to trade the Cypher chart pattern. Here’s a quick overview of what you’ll learn:

First, we’ll present some background information about the Cypher harmonic pattern. Then, we will show you how to identify the pattern, including its unique Fibonacci ratios that make it a relatively complicated and rare chart pattern.

Next, our trading analysts teach you to spot the Cypher pattern on a live chart and draw the Cypher shape using a built-in drawing tool on a trading platform. We’ll also focus on recognizing the Cypher Fibonacci ratios and in what area you might expect a reversal. We’ll also show you how to confirm the reversal with the RSI indicator and when to enter a trade using the Cypher pattern.

At last, we quickly review the pros and cons of the Cypher harmonic pattern and discuss the key takeaways to consider when trading it.

Let’s get started!

Chapters:

0:00 - Intro
0:47 - How to Identify the Cypher Harmonic Pattern
2:33 - How to Trade the Cypher Harmonic Pattern
4:00 - Pros and Cons
5:06 - Key Takeaways

➡️ For the full Cypher pattern guide, visit this page: https://howtotrade.com/chart-patterns...

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The information provided in this video is intended for educational purposes only and is not to be construed as investment advice. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. There is a possibility you could sustain losses of some, or all of your initial investment and therefore seek independent financial advice if you have any doubts.

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