StevenRedeker

StevenRedeker

Typical Gartley Pattern with 2 points of entry.

StevenRedeker

On GBPUSD we have 3 Pattern set up, Bat, Cypher, Cypher. My prediction: - Fill of the Bat-Patter (red) aiming for 38.2 Fib Target - From there on a possible down move to fill the blue Gartley-Patter, aiming for TP1 and TP2 (blue lines) -After targeting the blue Gartley, another down move to the purple Gartley (H4) with targets around the actual range.

StevenRedeker

we have 3 Pattern setting up. 2 bearish and 1 bullish. For entries watch chart the matching colored lines are the Takeprofits of each pattern

StevenRedeker

Weekly resistance level, Double Bottom and a bullish divergence at the RSI. 3 Take Profits (black lines)

StevenRedeker

TP1 & TP2 are the black lines ;)

StevenRedeker

see chart

StevenRedeker

we came to a hard resistance level and spiked below previous structure so it is a valid Double Top.

StevenRedeker

TP1 0.382 TP2 0.618

StevenRedeker

Pretty awesome risk reward. TP1 38.2% lvl Minor TP 61.8% lvl

StevenRedeker

I just gave it a try because of the resistance level.

StevenRedeker

I just saw in my pre-week analysis a potential Butterfly-Pattern in the Daily Chart. Entry, is in the Zone between the 1.141 Fib expansion from X-A and the 1.618 Fib expansion from A-B. Agressiv Stop would be above the A-B 1.618 Expansion. The normal Stop would be around the 1.618 Expansion from X-A. Stop Loss at 10659.42 Target 1 would be at the 32.8 Fib...

StevenRedeker

Just an idea, if the market completes the pattern

StevenRedeker

RSI needs a bullish divergent.

StevenRedeker

Before I open a Buy position, I wait for a bullish divergent of the RSI

StevenRedeker

I look for a short entry around 1.57744, if there will be a Gartley Pattern

StevenRedeker

structure of a cypher pattern, short with a really nice RW ratio