Hey traders. In this kind of setups we have two opportunities to get long. I call this setup "Revenge Cypher". If the Gartley
loses then I will take a cypher
. Because the Cypher
is larger than the Gartley
its profits cover the loss of the Gartley
and overall we stay in profit in this situation. The two of them also can win. Or the two of them can lose. There's another option: the Gartley
wins and the Cypher
never has a chance to complete. Keep in mind that these setups are no way interconnected. The outcome of the first no way influences the outcome of the second.
I usually set two trades. Traditionally stops go beyond the X point. Originally, Gartley
was designed to retest A-point. But I use 0,618 of AD. In Cyphers I use 0,618CD for target.
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