a unified gartley is completed. Price went deeper into the sell zone which give a better risk to reward ratio. But the priceaction is still bullish. Wait for some signs of weakness (long up tails, bodies become smaller, bearish candles appear) to execute short.
Has your testing shown an amount of consolidation that would decrease the probability of a trade? In his pattern, there has been a significant amount of consolidation in the sell zone.
voodoogodman
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@voodoogodman, if you decide to test a time limit, I Might suggest 10 bars.
Alexander_Nikitin
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@voodoogodman, the more it consolidates the lower is the probability of reversal. consolidations by themselves are continuation patterns.
Was the entry invalidated as the price closed below the sell zone on friday?
Alexander_Nikitin
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@wolfy5000,how can the entry be invalidated? if you entered then you entered, if not then not
wolfy5000
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@Alexander_Nikitin, what i was meant to ask was. Would your trading rules suggest that the probability should be higher if the daily candle closed within the sell zone. I entered within the sell zone so am in profit but am trying to gain a bit of understanding of whether i was foolish or misguided in doing so?
Alexander_Nikitin
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@wolfy5000, Probability of win depends on your execution method, your stoploss placement, your targets placement and your trade management. Of course, you made a mistake when opened the trade because you didn't have a backtested trading plan for these patterns. My rules say: "If you made a mistake then close your trade immediately."
IvanKumburovic
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Pattern is completed but price already at low's
at least 0.3 - 0.5 fall could happen