Going through my premarket analysis for the London Live room this morning and thought I would bring this one to the attention of any traders.
a few other things on the radar this morning so looking forward to the live room session. See you there.
Target 1 = 0.7092
Target 2 = 0.7062
Stops below X
Feel free to come and watch us trade LIVE this morning!
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The reason we put hundreds of hours into back testing is so that we can build up our reticular activating system which allows us to identify the same impulse leg each time. Remember as long as the pattern is profitable (whish it is hugely) then all that matters is we trade the same way we backtested because after all, we want to mimic our backtesting results and nothing else right? This was a pain free winner. Thanks for commenting.
The week opened with a gap which is not visible on the TradingView charts. We already put in an AB=CD move which brought us to the top (B-point) of your Gartley pattern. We retraded back into previous resistance/support completing the Gartley. I'm looking for a potential 3-drives move right into the week open, where we have a nice Fib cluster (0.786 retracement, 1.272 this weeks low, 1.414 previous low and 1.618 of inverse extension of current low). Since we are putting in new HH and HL, for me chances are good that we will try to at least reach the border of that gap.
Option 2 ; if current lows do not hold and we break below structure we have a potential bull cypher setting up.
What do you think ? ;)