tommyb35
Long

2 patterns, but 3 choices

FX:EURAUD   Euro / Australian Dollar
22 0 0
Its not pretty, but you have a bullish cypher completing at 1.3758 and a bullish Gartley completing at 1.3727. So you can take the cypher or take the gartley . But in the title I said 3 choices. The 3rd is; since the cypher is completing about 30 pips above the gartley , you now have a nice potential reversal zone. So you can wait for price action to come into the kill zone or PRZ and wait for a double bottom , engulfing candle, doji etc. and then enter the trade. The cypher has a higher success rate but the bat has the far better risk to reward ratio and the 3rd option is in between pending on what happens. Whatever your trade plan/rules are, if any of these are apart of it, it could be a good opportunity.
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