@luzonxzy that gpusd trade nearly qaulifies as a cypher pattern
Great job on the trades!!
Couple of questions I have for you
1) In pic 1 you have a Aqua stop loss line there which I see price penetrated. Are these manual S/L's? I am assuming so since you did not get taken out of the trade. If these are manual S/L's what is your threshold before you actually close it?
2) I notice that on your ratio trades ( which are awesome) that you are entering mostly on the 38.2 retrace. Are you only taking these ratio trades on the "animal" patterns forming ( butterfly , crab , etc ) or do you use them on the regular ABCD patterns as well? If I am seeing this correctly is looks like you are playing the CD part and the also playing the D reversal as well yes?
Thanks for sharing your info really appreciate it
2) I basically trade emerging ABCD patterns. Its just that sometimes they form other patterns. And yes, I play the CD leg but not always the D reversal. I have specific rules/qualifications for taking patterns when they form, which that bat pattern did not meet.
Thanks for checking out the trades. I really enjoy sharing em.
Thanks I appreciate you answering. To follow up I to also play the ABCD pattern as I found it very accurate , my question would be what is it about the 38.2 fob level that you usually use? How do you know price will not go beyond that say to 61.8 or 78.6 and then retrace?
Ok I think I understand. So as I was writing I noticed the AUD/USD BIg move up then price stalls around 61.8 fib. Looking to the left there seems to be some support around that level as well. So in this case the projected target would be near the 161.8 level which is also the completion of ABCD. Would you then take this long trade with a S/L right below 78.6 with an eventual target of near 161.8? Just want to make sure I am understanding correctly. Also I know you would take profits along the way but I am just trying to understand a bit of your method. ( see attached)