Jump to: Pattern Result
Date and Arrival Time: 202-11-12 14:15
Symbol Name: HEROMOTOCO
Pattern and Direction: Cypher – Completed – Sell
Pattern Completion Price: 3100, Pattern Ideal Completion Price: 3074.65
A Completed Cypher has arrived at 14.15. The coordinates are:
This is a pattern with a formation span of 14 days, starting from the 23rd October – 13 November 2020.
There is a potential Sell opportunity at 3100. A Cypher is often suggested to be traded with the level X as the stop-loss ( 3152.95), however a stricter stop-loss can be kept closer but above D (above 3100) for a better control of risk for more cautious traders.
Update: 18th November EOD – SUCCESS!
The Cypher pattern took some time to consolidate after the pattern completion, and then made a very strong move down in the direction predicted by the pattern by the next day market open, falling nearly 150 rupees from the pattern completion by the 18 EOD.
Profit can be taken then or for some time longer depending on the trader’s expectations of a medium-span pattern such as this. Take a look at the results below:
