Lorbeer Pattern in Support - Great RRRThese Pattern have a very high rate of success, depending on the actual market cycle and pair between 40% and 70%. This one here even has an awsome RRR
Tip: Look for lower timeframe confirmation before entering
Lorbeerpattern
Lorbeer Pattern in SupportWaiting for entries to trigger. I am rather short on the EUR on other pairs but treat this as a great hedging opportunity to reduce cost or maximise profit.
Potential Lorbeer PatternYou can alos look at is form a Double Top point of view. After the "V-Point" breaks which confirms the Double Top, price often retraces a certain way before continue down.
Therefore, either you trade the trendcontinuation to the long side or you take profit at the V Point or 50% Fib retracement and then go short for new lows.
HIGH probability signal on Lorbeer pattern => 26% potentialFirst target with a +60% chance of profit on a 382 retracement, of the total size of the pattern which provides a 9.5% profit
If price comes back to the signal level another 50% chance of profit on a secondary target provides 16%
!!! My tip: Statisitcs show that if price retraces right away to a 50% then it will most probably continue to higher highs (vice versa if D was a low)
Pattern within Pattern with Pattern. Plenty Pips Opportunity!As we speek the first ABCD gets triggered.
If price continues another more beneficial LorbeerPattern is waiting.
On profit target yet another Long LorbeerPattern triggers. These are all short to mid term trades. Since I already am short this pair on the long run and hort EURUSD on the long run, I will only trade small size to respect my money management and allocation setting but the LorbeerPattern is impressively powerful so I always get excited seeing one forming!
LorbeerPattern in @ResistanceHi traders. So far I did not trade Bitcoin but a first look on some breef historic statsitics show that BTCUSD follows the same price action pattern than most assests.
After seeing a cahrt of correlation of the Gold arally of 1980 and the Bitcoin rally that happens right now, and the correlation is surprisingly (why am I surprised, there is nothing new under the sun!) accurate. If this correlation continues then we will see some major sideways swings going forward. Pattern traders know that asvanced fibonacci pattern work best in siderways or consolidating cycles.
LorbeerPattern coming up, >70% WinRate for this Adv Fib Pattern!I already opened a small short trade as price rests at resistance. In case the full pattern will not be triggered, I still want to make some profits.
Considering the short position on CHFJPY that is not moving anywhere since more than a week, I retain myself to add to many long assumptions to the japenese yen.
