Looking for a 1 to 1 risk/reward on this experimental method.
This experimental trade will be used as confirmation with the advanced pattern formation.
The extension of the BCLeg is a few pips over the limit but I think that this slighly invalid Bear Cypher will perform just as well as the others since crypto is highly accurate. Take profits to structural levels.
Does EurUsd have any more steam to retest previous heights? We will see.
Crypto bubble: Consolidation. That is what it means. During these consolidating(bubble) times, advanced patterns form; increasing the chance of a successful trade set up. RSI shows that there may be some more bullish momentum and retracements before this Bear Gartley is completely filled. I take profit at structural support levels.
Over the weekend, There was a gap in the market that may have only delayed the inevitable: Bull Cypher opportunity. If it fills, I will be looking for targets at structure where the orbs are.
As I have mentioned before, most of the time, patterns within larger patterns fail if traded in the same direction. This smaller Bull Bat failed by a few pips, stopping out. I will be switching to Average True Range(ATR) for my stop loss placement from now on. In the meanwhile, This larger Monolithic Bull Bat has a good opportunity for you traders out there.
looks like this Gartley is dancing on one toe. It is still a valid pattern as price struggles to reach point D. Let's see how much success this will be.
After the successful CD Leg descent after failing to retest the stucture high on the last shoulder, this Monolithic Bull Bat pattern may be a possibility. There is also confluence with an ABCD pattern on the cd leg, and RSI is starting to show some bullish divergence.
here is another bat out of the cave! If it completely fills, we are looking at a possible bearish drop. I am looking for a retracement to a structural target. If it does not push past resistance at the red orb, I will trade it as a Double Top.
A long awaited Cypher with price resistance around the BLeg may give in it's attempt to form. With this third encounter with this price, it may be difficult to break structure. We will see.
While recently taking several bullish trades on this pair, I noticed a monolithic pattern forming that may prove to be profitable if it can turn over for a bearish retracement once the Bear Cypher pattern is fully formed. Let's see what unfolds. RSI indicates overbought conditions which indicates a possible drop to structural support. I am aiming for targets there.
Due to the aggressive moves of crypto currency, This gartley has a small chance to survive. RSO shows over bought conditions. Looking for targets at structural support.
This is a trend continuation opportunity. If the Bullish Cypher fills, look forward to the trend continuing because structure has been broken, and has created a higher high, higher close candle in succession of XA leg and BC leg. Looking for target at C but I may continue beyond this point.
RSI is showing bearish exhaustion(even though there is strong downward momentum to break previous support). I will give this Bullish Gartley a shot since there is additional confirmation with minor support/resistance in this area.
This Cypher is in alignment with the overall trend. RSI is exhausted but I expect that the bulls will push it to limit order. Structural targets on B Leg and lower support will be what I am aiming for.
I waited for price action to "Double Top" before entering this trade at the filled Cypher Level. There is bearish divergence on the RSI, but there is also hidden bullish divergence there too. Because of this divergence, this Cypher may have a low probability to pan out in the direction intended. I am taking targets to structure.