WendelinProbst

WendelinProbst

A nice bearish Gartley in the USD JPY 1 h setting up, Levels are all in the Chart. I think this one has a good risk reward Ratio. Good luck

WendelinProbst

not the very best risk reward ratio, but tradable.

WendelinProbst

I like this one as it offers an entry in direction of the trend.

WendelinProbst

This Cypher has a nice Risk Reward

WendelinProbst

Good way to speculate on a even bigger upmove here

WendelinProbst

I am short Cable with the smaller Bat, but placed my stop above X of the bigger Bat. So I have twice the chance of a profit, but of course also twice the risk. but as the Stop of the first one would be in the trigger area of the second one I play it like this. First Target .382, second target .618

WendelinProbst

Could be a second chance entry into a counter trend long position. but be very careful with that one, the trend is heavily bearish. Would be a nice double bottom in the daily chart also. Stops have to go 15 to 20 pips below X, Target could be a lot higher than the current levels, so I am not shooting for the minimum Gartley Targets (0.382 and 0.618 of AD) but for...

WendelinProbst

Be careful, this one is in a sharp downtrend, but also oversold...

WendelinProbst

The Level around 109.16-109.19 could be an interesting short level as 2 high probability patterns meet there right at a resistance. The Cypher is a bit akward as D is just a tad above B, but valid

WendelinProbst

I just successfully traded a bull cypher that had X just one spike higher as you can see in the left corner with the C of the bear cypher being the entry. but as the one below is not triggered it stays valid. So best case would be a trigger of the bear cypher and reversing the position at the Cypher level. But markets unfortunately always do what they want...

WendelinProbst

we need to get a bit higher first to trigger this one. But orders are already prepared.

WendelinProbst

I hope so as the deep AB retrace (which is not enough for a valid butterfly) offers an entry just above X. So Stops can be placed very near the entry. And of course I want the Cypher to be successful now and therefore see the Bat triggered.

WendelinProbst

after the huge run up in the USDJPY this pair could be due a drop of 100 to 300 pips and therefore I am thinking about letting the second position run in case the trade is triggered and Target 1 hit with stops at BE. In this case I would not risk more than the second position profit.

WendelinProbst

Maybe this one offers an interesting entry for a short counter move after the drop

WendelinProbst

I think the Bat is more likely to be be hit even as cypher entry is nearer

WendelinProbst

I won`t trade the red cypher as a Stop 10 pips below X would mean an uninteresting risk reward for the trade. But I will trade both short patterns if we get up to the levels. but not in case if we get a gap past the entry level. In such cases I don`t activate the orders after the market opens

WendelinProbst

doesn`t matter I trade both as they have completely different trade sizes due to different price ranges and risk. I will trade the small one with a bigger size and its possible that both patterns will strike. So in case the small one gets triggered I won`t be short any more but also have not the full position size of the bearish pattern. But if we hit the targets...

WendelinProbst

We need to go 100 pips lower to get an entry. Easily possible next week...