I have taken this trade based on a custom pattern identified by my pattern recognition software (OTSoftware). Yes I'm aware this is at a subjective support level. No I don't care because I trust in my plan and know it works.
This pattern:
65.5% win rate based on my backtesting results
1:1 RR (adjusted for spread)
We have a nice bearish Gartley pattern that has already completed and now I'm looking to see if we will get a reversal. The market is bearish on a higher time frame so this looks like a good opportunity.
Any opposing views or comments are welcomed!
Possible Gartley and Cypher setting up on Dollar Franc .. Also there is an equal measured move to back up the completion of the Gartley.. and with all the uncertainty around the dollar with the trade war.. lets wait and see
Following bearish swing pair is now forming bearish flag pattern on 1D time frame. (see pic.below)
Inside the flag pattern pair is now potentially forming a bullish gartley , that is completing right below the trendline of the flag.
RSI is nearly oversold already so we may see it diverging at the completion of the pattern...
Hi guys,
long time no see. Here i am with a new simple analysis: as you can see there's a Gartley pattern on the hourly timeframe of this chart (CADCHF), and i've already entered the market long. Be careful because this is a counter trend trade and it's riskier than other ones. Always put your stop loss when you're against the trend.
If you have questions/ideas,...
Very nice intraday opportunity setting up to sell in short term bearish trend . Pair has broke below the previous structure support and is now forming a potential bearish Gartley . Rule For entry- RSI must be overbought and/or diverging AND of course RULE NO.1 ATR based stops above the XA leg in case this goes wrong.
Trade your plan and have a nice day!!!! :)
Hi guys,
very easy trade here. There's a Bat pattern completing right now on this 4H chart and i'm going short, with stops above X and targets along with Fibonacci (0.382 and 0.618 of AD). Positive note: price is in overbought and divergence conditions on the RSI below.
If you have any question, feel free to comment below.
Otherwise, see you in the next chart!
Unified Formation setting up here. Wait for the entry between D point completion and pattern invalidation level. This is an A* trade for me - meaning I will be taking 2% risk.
Based on my backtesting (2005-2018) this pattern has an average of:
- 61% Win Rate
- 1.35 R:R
- 3.15 Profit Factor (Risk $1 to get back $3.15)
- 10.9 Recovery Factor (Draw downs are...
I am currently in the AUD/USD trade I posted last night, we have a potential bullish Bat on the GBP/JPY on 4 Hr chart completion at 143.53, conventional targets at 38.2 & 61.8 stops being below X leg. Penetration of B leg has already occurred.
Wait for confirmation within the red box. Take profits at .382 and .618 price extreme. Stops shall be ATR based once an entry reason is given inside the zone. Pattern is invalidated if it exceeds red box
A very deep gartley pattern is possibly on the cards for next week on this pair. As it did not break the 78.6 retrace on leg A-B and also leg B-C did not break the 88.6 retrace i find this to be a valid pattern which follows my rules. with a very small stop loss required due to how deep this pattern is, this could be a great set up to keep an eye on for the next...
