A potential unified gartley is setting up. Below is the best (to my mind) way of trading it based on my market research.
Pattern details and a trade plan: Swing identificaiton: prex(6) B-point: 0.6-0.7XA C-point: 0.3-0.4AB Entry(limit order): 0.8XA Stoploss(stop order): 0.9XA Target(limit order): 1 to 1 RR
Historical performance: First bar in history: 1999.01.04 07/00/00 Total patterns found: 26 Number of winners: 16 Average winner: 12.3 pips Probabilitiy of win: 61.54% Average RR: 1.33 R-expectancy: 0.4365
Your TA was good but I don't understand why didn't you set your stop-loss above the X point? Cheers!
Alexander_Nikitin
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@wolf-lamb, Historically, setting stoploss below the X-point (0.9XA) was a better trading method (generated greater expectancy) based on my backtest.
wolf-lamb
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@Alexander_Nikitin, I really appreciate your kind response. Do you know where can I find these kind of statistic for harmonic patterns? Is there a book you can recommend or a website? Thanks.
Alexander_Nikitin
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@wolf-lamb,
No book/website gives this kind of stats. I tested everything myself. And I try to motivate others to test everything themselves.
ICEKI
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Although the stop was hit; but overall the analysis was still nice thank you Alexander for the analysis =D