WendelinProbst

WendelinProbst

Price has to go down quite a bit to make this potential pattern a setup. but I like it as C just kissed the 1.27

WendelinProbst

This is a really nice one to trade. I take only 1 position and one target here due to the range.

WendelinProbst

there could be a few places where price action reverses in case we go down. Each Pattern has a statistical chance of > 50% and a risk reward better than 1. If you play just a big enoug number of these patterns you should be like the house in the casino and consitantly make profits, sitting on the other site of the table as the gamblers.

WendelinProbst

for me only 1 Position and 1 Target due to the big range. But Risk-reward still above 1. Price has still a way to go down to D first.

WendelinProbst

If we go down to the entry level, I will be on board of this trade

WendelinProbst

I trade such big ranges only with one position and one target. But offers still a Risk Reward above 1. together with a hitrate in my favour thats a trade to take

WendelinProbst

due to the enormous range I trade only one position instead of 2.

WendelinProbst

I play it like this: I place my Stop for the Gartley at the Stop for the Bat. If one target are hit before the Bat was triggered, I put the Stop to BE and give new orders for the Bat. If the Bat entry (= my Gartley stop) is triggered before a gartley target was hit, then I see the Gartley as failed and am in the Bat then with adjusted targets.

WendelinProbst

Risk Reward of 2 is quite good. Let`s wait and see if there is a fill

WendelinProbst

Two valid entries. One for the bears and one for the bulls

WendelinProbst

If we see a rally, the price could stall there and make a retracement before a new advance for a possible gap close

WendelinProbst

Trading that one does not affect my smaller Long position of the longer term big Cypher Pattern.

WendelinProbst

This could play out very soon in the 1h chart...

WendelinProbst

For me this one has a too big range to trade it, but other traders with longer term approches might take it. Very good risk-reward

WendelinProbst

I won`t trade this one, because of the Risk reward being too close to 1. Due to my MM rules and the big range I would only be able to shoot for target 1 at 0.382 and with slight frontrunning orders + target adjustments to the real ranges, the actual risk reward probably goes below 1. Therefore I pass on this one, but GBP offers better Cyphers on other pairs...

WendelinProbst

this one is not triggered yet, let`s see. Due to the range I will only go in with half size and Target 1 on 0.382

WendelinProbst

If the bottom holds, we could see a huge rally with a nice reward. If not its also ok, just one of 3 such trades has to be a winner in order to be profitable. I always try to be the house and not the gambler in the casino ;-) Have also 2 targets here 0.382 (Stop to BE when reached) and 0.618.

WendelinProbst

The ones that trade Gartleys at D= .786 XA are already in the trade. I have my orders at the 1.27 AB.... If I am not filled that wont be tragic....