sleutha

sleutha

I am just trying to understand shark patterns so if any can help but I think this is how I set it up .

sleutha

SImple and illustrated on the chart hope this helps

sleutha

relates to the recent GBPAUD trade and is a good trade up

sleutha

Just gonna be shorting when the Gartley parttern is complete as illustrated in the chart

sleutha

GBPAUD potential butterfly pattern. With AUDUSD testing the diagonal resistance this looks like a likely trade so everything is set up Will enter long with a nice 2-1 reward/risk will let the trade ride and see when it completes

sleutha

Upon Completion of the cipher pattern I will be getting into a long trade to the first target of 38.2 and second target is 61.8 Simple and we just the place stoploss under x then we let the trade do it's business

sleutha

GBPAUD Break of the diagonal support plus it will be a cloud break.

sleutha

In it right now, just gonna ride it to the show price. I am not a good at explaining but I just follow my trading plan. Seeing as this trade is a 2-1 RR its not too bad Reasons for entering ABCD pattern on 15 min chart but my D leg is a bit Short it should really be slightly longer

sleutha

If triggered, at the break of the triangle, we are going to measure the amount of pips of the base and thats the amount of pips the price action is most likely going to move which is just over 100 pips and our SL is going to place just below the triangle base by 5-10 pips. ~Simple

sleutha

Little short trade break of structure

sleutha

I can't full explain my analysis because it will just confuse people. This trade falls right into my trading strategy. I don't really use Support and Resistance so to say but my strategy pinpoints the point at which I believe the market will reverse and also shows me the TP and SL with the fractal indicator. This trade will be my longest trade in history because...

sleutha

Was in a rush when I executed and posted this trade but its a nice trade in respect cause entry can be pretty deep and it will still give a nice risk reward system, even if you miss the entry at the 200SMA you can still enter 10-20pips deep into the trade and it will still be profitable :) Good luck

sleutha

At 0.618 fib retracement The fib level is in the resistance Zone marked in green Either place stop-loss at 1.23090 Or you can close 70% of the trade and move SL past breakeven when price reaches the 200 SMA

sleutha

I hope this is simple to see Reasons for trade :- Strong Support, it's been tested 3 times and its wasn't broke RSI is oversold Lets see how this Trade GOES

sleutha

Since last trade lost for for less pips than it might have we have room for some hedging strategy, SL has to be at previous entry and TP has to be at 1.126 we will give this trade 3 Hours to make it's move. After 3 hours we will make decision to either continue with the trade OR closing a 70% and moving SL to break even or just above GOOD THING ABOUT THE TRADE...

sleutha

Hitting the Ichimuko cloud resistance at the same time we are at a 200 SMA resistance Also pin bar formed Short with a R/R of just about 2.3 Lets see how this goes

sleutha

Break of the cloud on the upside and its a positive R/R so lets see how it plays out

sleutha

A little scare at the beginning but lets see if trade pays off If the ichimoku cloud is broken on the downside then trade is invalid and it's better to take of the trade, however there might be an opportunity for a short Pressure was building up to BUY the pair in action, lets see it it pays off