Fantastic Risk Profile on EURAUD

21 Nov 2014

Nothing fancy here, just a good old fashion Gartley pattern. I'm actually not too big of a fan of the Gartley. My philosophy as a trader is built around risk/reward profiles so if I had to pick an Advanced Pattern to be my favorite I'd have to go with the Bat. However, because we have such a deep B leg retracement in this particular case our D leg is going to extend almost all the way to the X starting point offering us a fantastic opportunity to involve ourselves in a trade that has very low risk and very high potential reward.

Does this mean the trade will win? Who knows, what it does mean is that I can afford to be wrong 3 times on a setup like this and have one winner cover all of those losses. Now that's my type of profile.

More on this setup in this weeks WEEKEND REVIEW video "The Stop & Reverse Technique" youtube.com/watch?v=fZBkVGDB9Oc&list=UUVveEks3MWZqOsvzTF_LGQg