Alexander_Nikitin
Short

USDJPY, 30. unified gartley

FX:USDJPY   U.S. Dollar / Japanese Yen
A potential unified gartley is setting up. Below is the best (to my mind) way of trading it based on my market research.

Pattern details and a trade plan:
Swing identificaiton: prex(6)
B-point: 0.6-0.7XA
C-point: 0.3-0.4AB
Entry(limit order): 0.8XA
Stoploss(stop order): 0.9XA
Target(limit order): 1 to 1 RR

Historical performance:
First bar in history: 1999.01.04 07/00/00
Total patterns found: 26
Number of winners: 16
Average winner: 12.3 pips
Probabilitiy of win: 61.54%
Average RR: 1.33
R-expectancy: 0.4365
Trade active
Trade closed: stop reached
This pattern was found by MPS-v5.5 pattern recognition software: https://mps-trade.com

Join my free trading channel: https://t.me/mpstrade

My YouTube channel: https://www.youtube.com/user/alexniquitos/
The SL should have been beyond the X leg. The set up was good.
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@YouDontSeeMe,
At that time placing stop at 0.9XA was a better option (greater expectancy).
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YouDontSeeMe Alexander_Nikitin
@Alexander_Nikitin, yeah. but still its a damn good set up :)
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Your TA was good but I don't understand why didn't you set your stop-loss above the X point? Cheers!
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@wolf-lamb, Historically, setting stoploss below the X-point (0.9XA) was a better trading method (generated greater expectancy) based on my backtest.
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wolf-lamb Alexander_Nikitin
@Alexander_Nikitin, I really appreciate your kind response. Do you know where can I find these kind of statistic for harmonic patterns? Is there a book you can recommend or a website? Thanks.
Reply
@wolf-lamb,
No book/website gives this kind of stats. I tested everything myself. And I try to motivate others to test everything themselves.
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Although the stop was hit; but overall the analysis was still nice thank you Alexander for the analysis =D
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@ICEKI, you are welcome
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