FX:GBPUSD   British Pound / U.S. Dollar
A potential bull unified gartley
Dec 17
Trade active: now the pattern completed.
Dec 17
Trade closed: stop reached
✅ This pattern was found by MPS-v5.5 pattern recognition software: https://mps-trade.com

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Hello Alexander. Amazing work you are doing here.
Do you have any research on failing patterns ie. patterns hitting SL?
Im wondering if it would be possible to come up with a strategy even when patterns fail? I have personally been looking at high/low retracements and abc projections in harmonics. I found 227% abc projection to be very important. If price does not break that level prices could potentially be heading to some very extended profit targets.

God bless, thank you for reading and happy holidays

Best regards
Sebastian
Reply
Alexander_Nikitin MikulovicFOREX
@MikulovicFOREX,
There's no objective way to say if the price breaks the level or not before hand. Only after, when it already makes no difference. I tested so called "rejections". In objective market research waiting for a rejection you miss lots of winners thus making your pattern depend on the "rejection" probability. For example, you have a patterns that has a probability of 60% and you have a rejection with the probability of 70%. So, your total probability is 0.6*0.7=0.42. As you can see, 42% is much worse than 60%. In pattern trading, the less variables you have the better. Those who say that you need rsi, candlestick confirmations simply don't understand probabilities. Even is they are famous authors... Every mathematician know that every next variable added to a system makes it more and more random.
Reply
MikulovicFOREX Alexander_Nikitin
@Alexander_Nikitin, Appreciate your honest answer, thank you for the feedback
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Very nice thank you Alex
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@ICEKI, you are welcome
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lol
Reply
@shaunrubio,
what are you laughing at?
Reply
shaunrubio Alexander_Nikitin
@Alexander_Nikitin, nothing bro. nice analysis tho keep it up lol
Reply
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