Oztrade
Long

GBPAUD - CYHPER GARTLEY - BULLISH PATTERNS - RISK REWARD

FX:GBPAUD   British Pound/Australian Dollar
166 2 3
Hi All, Recently I shared a Bearish Bat for this Pair - this pair is in my portfolio so I try to maintain a sense of being in front.

Here we see a Cypher and Gartley forming and we usually know that with multiple patterns at the same D completion Area means for a high probable trade along with other filters, and Fibonacci Confluence providing extra confirmation for a reason for entry.

Gartley - X to A - A to B 61.8% Retrace and must not touch 78.6% - B to C MIN 61.8% must not violate A Leg - D Completion 78.6% Retrace from X to A with a 1.272 Fib Extension from A to B and an AB=CD move from A to B leg copied from the C leg to the D completion with all these together shows us the potential Kill Zone - A perfect Gartley will have all of these parameters meet at the exact same point - as you can see in this Gartley the Green box is large for our kill zone - having a Cypher tells me that the best entry would be 78.6%

Just below the Even Handle 2.15000

I have marked Standard Entry level @ 78.6% - you will notice the R:R Profile is slightly less than 1:1 I think it was 0.94% depending on if you keep your stops at the minimum stop level - keep in mind GBP pairs have a very large ATR

Again with Cypher Patterns we very rarely see a 1:1 - usually they have an inverse risk reward but because they are so frequent and have a good win ration the inverse Risk Reward doesnt matter

Also make sure you follow your ROE, Plan your trade and Trade your plan and good luck.

Happy Trading
ForexisbizFib
a year ago
Thanks outrage..sounds like a good plan..
Reply
Oztrade
a year ago
T1 Hit stops moved up for T2 to Break Even
Reply
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