FX:USDCAD   U.S. Dollar/Canadian Dollar
a year ago
This situation appears quite frequently in the markets. I always take both patterns. The are four types of outcome here: 1) Bat loses and Cypher wins 2) Bat wins and Cypher don't trigger 3) Bat wins and Cypher wins 4) Bat loses and Cypher loses. The patterns are not anyhow interconnected to each other so the bat outcome doesn't influence the Cypher outcome. Outcomes #1 and #2 are the most common. Click "thumb up" if you find the information usefull. Click follow if you want to stay updated with my ides. You support is really important for me)
a year ago
Comment: There is another outcome when no trades trigger.
a year ago
Comment: Now bat pattern turned into gartley.
snapshot
a year ago
Trade active: gartley pattern was triggered.
a year ago
Trade closed: target reached: gartley pattern took profit. Waiting for cypher pattern to trigger.
a year ago
Comment: Cypher pattern didn't trigger.
This pattern was found with Pattern Search Software (c)
Visit my website for details: http://www.ps-software.net
Watch the sample video: https://youtu.be/mwZE-Un4V48
Best regards, Alexander Nikitin.
Fulltime professional trader and programmer.
Mustafoinc
a year ago
Double thumbs up, I support this post, thank you!
+1 Reply
Alexander_Nikitin TOP Mustafoinc
a year ago
thank you
Reply
Excellent catch!
+1 Reply
Alexander_Nikitin TOP morshedul.sazid
a year ago
you are welcome
+1 Reply
IvanLabrie PRO
a year ago
Awesome.
+1 Reply
How long do you leave the trade open? If clearly price has missed the entry point and has shot up well past what would have been the target, do you just leave the trade open? The reason I'm asking is because I imagine that leaving the trade open could possibly leave another pattern to develop which works against the original trade set up.
Reply
Alexander_Nikitin TOP Captain_Walker
a year ago
I do not have two open trades. As soon as gartly hits the stop, I enter cypher at market. The cypher pattern is valid until price penetrates C-point.
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