TomHall
Long

EUR.GBP - BULLISH BAT & CYPHER SETUPS - .8497 & .8488

FX:EURGBP   Euro Fx/British Pound
2 months ago
On the EUR.GBP 1hr chart we 2 potential trade opportunity's at the D leg completion of a Bullish Cypher & Bat setup.

Bullish Cypher Setup ( Grey ) - D leg completion .8497
Target 1 - .8523
Target 2 - .8540

Bullish Bat Setup ( Blue ) - D leg completion .8488
Target 1 - .8518
Target 2 - .8536

Bullish Bat Setup: Stop loss would be placed below X leg structure support .
Bullish Cypher Setup: Stop loss would be placed below X leg structure support .
2 months ago
Comment: EUR.GBP - Bullish Cypher at .8497 now complete.
2 months ago
Comment: EUR.GBP - Bullish Bat at .8488 now complete.
2 months ago
Comment: 5 EASY STEPS TO TRADE THE GARTLEY PATTERN

5 EASY STEPS TO TRADE THE GARTLEY PATTERN
2 months ago
Trade closed: target reached
2 months ago
Comment: Short opportunity at the retest of .8480 strong resistance.
Long opportunity at the break and close above .8480
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MarkSterensohn
2 months ago
Wow!!! But it's risky, Tom! Because EURGBP has very strong negative correlation with GBPCAD and strong negative corr. with USDJPY and today GBPCAD as well as USDJPY are very, very bullish :) But it can be changed of cource! Have a nice day!!!
Reply
TomHall TOP MarkSterensohn
2 months ago
@MarkSterensohn, There are a number of factors i neglect when taking positions, one is correlation to other pairs for multiple reasons.
We will have to see how price reacts at the D leg.
+3 Reply
OrniinKhun
2 months ago
i entered
+1 Reply
TomHall TOP OrniinKhun
2 months ago
@OrniinKhun, I hope it all goes well.
+1 Reply
MarkSterensohn
2 months ago
I'm in, Tom !
+1 Reply
TomHall TOP MarkSterensohn
2 months ago
@MarkSterensohn, Best of luck mate.
+1 Reply
Xanoxt
2 months ago
Entered at 0.851015 :-| (note to self, next time use a limit order).

Well, it is my first trade. :-D
+1 Reply
TomHall TOP Xanoxt
2 months ago
@Xanoxt, Lesson learnt for your next trade :-)
+1 Reply
Xanoxt TomHall
2 months ago
@TomHall, yup!

My first trading day went as follows:

Incorectly entered and incorrectly set the stop loss, so I've lost some (if the stop loss thing didn't happen, would have made a straight profit),
but afterwards, re-enentered correctly and recovered most of the loss. And while I lost some of my learning fund (which is less than 5% of my total trading funds, as per money management), I consider this a success!

This is probably useless info, but I'll share anway:

1st entry @ 0.851015, and exit @ 0.84786
2nd entry @ 0.848965 and exit @ 0.852435, due to the technical break at the broker I use.

Leave and learn, thanks for your pattern lessons, they are quite informative!
Reply
Alkalbi PRO
2 months ago
on it mate!
+1 Reply
TomHall TOP Alkalbi
2 months ago
@Alkalbi, Let's see how it plays out, have a great day.
+1 Reply
Skullboy
2 months ago
shaitan! how it works?
+1 Reply
TomHall TOP Skullboy
2 months ago
@Skullboy, I don't understand sorry.
Reply
Walentine
2 months ago
more intersting, thanks!
Reply
TomHall TOP Walentine
2 months ago
@Walentine, Thank you.
Reply
Walentine
2 months ago
trade is still valid, right?
Reply
TomHall TOP Walentine
2 months ago
@Walentine, It is yes.
Reply
Walentine TomHall
2 months ago
@TomHall, thanks!
Reply
TomHall TOP Walentine
2 months ago
@Walentine, My pleasure.
Reply
makboga
2 months ago
Perfect. Thank you TomHall
+1 Reply
MarkSterensohn
2 months ago
Tom, can you explain please concerning the take profit: 38% of what? Of the original C-D? Or of the C to the actual bottom (in this case 0.8466)?
Reply
anfernees
2 months ago
well done, but quick question, as the price at D is below X, is that supposed be trade closed or SL? Or need to wait for the price come back to D and enter?
Reply
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