FX:NZDJPY New Zealand Dollar/Japanese Yen
Hey, traders. Here's the pattern I call "Unified Gartley". It unites the features of both and a . I discovered it myself doing market research. Up to 68% probability to hit 38.2 before touching X-point (depending on pair, of course) if it is used in combination with ACS-based swing identification technique. This technique is pure calculations... So, no more "looks like an impulse..." or "seems to be a correction...". Only black and white. 100 traders using it correct way will have 100 absolutely identical drawings on their charts.
Trade active: Sold it))
Trade closed: stop reached: Closed this Gartley and sold the lager Cypher. Revenge trade is here)))
Comment: I mean this one
Trade closed: target reached: The cypher hit both targets)
I close my whole position at 38,2. Earlier I had 61,8 target. But it required some menagement. Needed to stay around my computer when price goes close to 38.2 to breakeven the trade. My time is gold. Do not want to invest it into these manipulations because the outcome is almost the same. As for you... You need to test the strategy first and decide what is the best way of trading it. And only do what you have tested.
Recently I switched to trade only 38,2. When I said earlier I had 61,8 this means time not the market. I traded 61.8 before I changed the strategy to trade only 38.2. That's it))). The procedure is always the same. No need to pay attention to anything else except the structure and the size of correction, relationships between impulses and fibonacci levels for entries ans exits. Very simple to execute))