WendelinProbst

WendelinProbst

I am currently short this pair on a double top trade. So I will reverse my position at the Bat entry

WendelinProbst

reasonable Risk Reward here so I will take the trade if we get down to the 1.27 of AB

WendelinProbst

but as there is no defined C for the Cypher yet this will only be the case if the Bat is a successful trade. So the Bat is probably next, I hope we don`t reverse few ticks about the entry. A Gap down below the Bat entry after the weekend would make both patterns invalid for me, as > 70% of patterns with a Gap past the entry fail...

WendelinProbst

currently we are sitting on a strong support level and I am thinking of getting long right here. but if we break down this Cypher could come into play.

WendelinProbst

This one looks quite nice, let`s see if we get an entry here...

WendelinProbst

the AB leg just came short to the .618, so its a Bat and no Gartley also the Gartley Entry level (1.27 of AB) was alrady hit on the down spike and price action seems to settle there. I will activate this one only in case we don`t gap past the entry level.

WendelinProbst

Either way the AUDJPY goes, there are various opportunities to trade it. Each entry has a higher likelyhood to reach at least target 1 than to be stopped out.

WendelinProbst

could shoot up without a break but this level provides a valid short opportunity

WendelinProbst

this is a nice one, it just triggered.

WendelinProbst

I have both orders active, let`s see. there will be big volatility so one or the other Setup will probably be triggered today.

WendelinProbst

due to the new high today the levels have to be adjusted. And therefore its no more interesting for me as it provides only a 1:1 risk reward calculating both targets. But a drop to the level could be on the way, Daily chart looks very bearish now.

WendelinProbst

This one will be on the cards if GBPUSD produces another scary drop after the Gap Close that hit the 1.27 almost to the pip. We will certainly see volatility during the next few days.

WendelinProbst

Nice Fib Confluence, D would be also exactly 1.618 of AB. Also a nice risk reward and support of the even handle 1.09 in the stop area

WendelinProbst

Another Aussie Pair with a potential reversal zone that is very near to the current price. Beware of Gaps below the Entry Point. The Gartleys I trade have a D point at the 1.27 extension of AB

WendelinProbst

We could be just a little bit above a potential reversal area of a Bat Pattern. After my definition its a Bat and no Gartley, since the C leg retracement is not the minimum .618 retracement although the B leg is .618, which often points to a potential Gartley. So let`S see if we see a turn in this area, which then could possibly lead to a potential Cypher, but...

WendelinProbst

Nice Kill Zone around 0.8117 if we get up there... Something for next week perhaps

WendelinProbst

After earning some Pips with the little bull cypher of my last post, her another possible chance: Two Patterns, Butterfly (1.618) and Gartley may suggest that Euro could possibly make a bounce from the level 1.2860 if it gets there. But never forget to put stops, this thing is in a very bearish trend and even though its oversold it could drop few hundred pips...

WendelinProbst

Do we see a Counter Move to the very bearish Trend from one of these 3 Levels? The yellow one is a Cypher the violet one is a Bat The blue one is a Gartley with D= 1,27 AB (Gartleys can be also traded with D= 0,786 XA, this one would come 10 pips below the Bat) Green Box shows a big potential Reversal Zone.