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Guys, This is why I don't take multiple profit targets. Most harmonic traders will take targets at the 38.2% Fib level, and the 61.8% Fib level and maybe even a third profit target at the 100% level. I ONLY take at the 38.2% Fib level. And I take everything off at that point. The Reason: In my testing,(backtesting, demo trading and Live trading) I found that...

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So I have been doing a HUGE backtest on Cypher patterns. 2500+ hours and 15k patterns found on 26 currency pairs, 4 timeframes. Even did a YouTube video on it. Check out my YouTube page at karmasenge.com/youtube. The MAX win ratio that I could find is a 46% win rate on the USDJPY, Daily TF. And the average was around 43% win rate. Couple that with an inverse Risk...

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Entry around 0.76025 Stops below X Target at 0.76610

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Bear Bat Pattern Entry at 0.69815 Stops at 0.70128 Target at 0.69224

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Here we have a bearish bat on the EURUSD 15M chart. Entry around the 1.0824 area Stops above 1.0848 1st Profit Target is at 1.07807 2nd Profit Target is at 1.07538

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Bull Butterfly Entry at 1.52373 Stop at 1.51235 Target at 1.54637

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USDCAD Bear Gartley Pattern Entry at 1.41439 Stop @ 1.41791 Target 1 @ 1.41079 Target 2 @ 1.40858 RR 1:1

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GBPAUD Bearish Bat Pattern Profit target #1 is at the 38.2% Fib level Profit Target #2 is at the 61.8% Fib level

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Here we have a secondary retest of the PRZ. If you missed the Entry on the initial test of this Bearish Bat Pattern, you could entry here. Stops above X TP1 at the 38.2 Fib level TP2 at the 61.8 Fib level

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Bull Bat found on EURGBP H1 TP1 at the 38.2% Fib level RR 1.54

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Gartley Pattern Entry @ 0.98473 SL @ 0.98190 TP1 @ 0.99093 2.2:1 RR Decided to enter a bit lower due to structure and a better RR.

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I meant to post both of these trades up but forgot to actually post them. But here you can see two very distinct patterns (Bat & Cypher) that were back to back and both very successful. I might not have posted them in time but you can learn from just looking at the patterns and seeing how successful harmonic patterns really are.

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I will be looking to short this level due to the convergence of 3 harmonic patterns (Gartley and 2 bat patterns) along with some decent support and resistance. TP1 will be at the 382 level and TP2 at the 618 level.

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Entry at 1.0627 SL below 1.0605 TP1 1.0661 TP2 1.0683

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Entry at 1.0627 SL below 1.0605 TP1 1.0661 TP2 1.0683

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Bear Gartley Entry at 0.72008 (although I do front run) SL at 0.7243 TP1 at 0.7130

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Bear Cypher

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Bear Cypher on USDCAD 1H