A unified gartley is about to complete on AUDUSD The swing identification algorithm is prex(12). Historically, on this pair and this timeframe, the pattern with this swing identification and with these ratios (B-point is 0.692 and C-point is 0.816) has a higher probability for continuation (futher up to 1.05XA) rather than for a reversal (same distance in opposite direction, down to 0.522XA). The exact probability numbers are 52.75% for continuation and 47.25% for reversal.
My personal approach is to trade this setup as continuation. I will buy it as soon as it hits the 0.786XA. Here 1.05XA is the target and 0.522XA is the stoploss.
This is not a trade recommendation for you. Don't trade this pattern is you didn't do the backtest of the strategy. This is simply a demonstration of my approach.
My personal approach is to trade this setup as continuation. I will buy it as soon as it hits the 0.786XA. Here 1.05XA is the target and 0.522XA is the stoploss.
This is not a trade recommendation for you. Don't trade this pattern is you didn't do the backtest of the strategy. This is simply a demonstration of my approach.
Trade active:
buy orders executed.
Trade closed: stop reached:
This was an example of a losing trade. Well, if you keep in mind that 47.25% of these setups are losers then you should be prepared for that:)
