USDCAD: REVENGE TRADE
This situation appears quite frequently in the markets. I always take both patterns. The are four types of outcome here: 1) Bat loses and Cypher wins 2) Bat wins and Cypher don't trigger 3) Bat wins and Cypher wins 4) Bat loses and Cypher loses. The patterns are not anyhow interconnected to each other so the bat outcome doesn't influence the Cypher outcome. Outcomes #1 and #2 are the most common. Click "thumb up" if you find the information usefull. Click follow if you want to stay updated with my ides. You support is really important for me)
Note
There is another outcome when no trades trigger.Note
Now bat pattern turned into gartley. Trade active
gartley pattern was triggered.Trade closed: target reached
gartley pattern took profit. Waiting for cypher pattern to trigger.Note
Cypher pattern didn't trigger.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.