I am not afraid of losing a trade; but I'm afraid of doing a trade without money management. Most probably, most of the time, haphazard money management is what gets us screwed. And, trust me, I have learnt this very hard way. So, here's a perfect 1:2 - Risk:Reward trade on your radar.
CYPHER PATTERN DESCRIPTION:
Basics - XA must be an impulse leg.
1. Point B must be in between .382 - .618 retracement of XA leg.
2. Point C must be in between 1.272 - 1.414 retracement of AB leg.
3. When Point D retraces .782 of XA leg, then completion of CYPHER PATTERN.
First Target: .382 retracement of CD leg.
Second Target: .618 retracement of CD leg.
CYPHER PATTERN DESCRIPTION:
Basics - XA must be an impulse leg.
1. Point B must be in between .382 - .618 retracement of XA leg.
2. Point C must be in between 1.272 - 1.414 retracement of AB leg.
3. When Point D retraces .782 of XA leg, then completion of CYPHER PATTERN.
First Target: .382 retracement of CD leg.
Second Target: .618 retracement of CD leg.