Below are examples of two different pairs with two valid setups. However I am only involved in one of them.
Take a guess.......
If you guessed that I pulled the trigger on the first set of pictures and not the second then you are correct. I have been watching the potential Gartley pattern on the USDCAD for a while now. The other day I also noticed that an ABCD pattern would also complete at the exact same point as the Gartley. This tells me (and this is only my opinion) that the market wants to go lower. So when I zoomed down to a lower time frame and saw another Gartley pattern putting me in the same direction as my overall prediction, I couldn't pass it up. If you read my post from Dec. 28th, then you'll noticed that I did the same thing with the GBPUSD and that trade ended up rolling over for 200pips, then reversing at the bigger pattern for another 200pips. Does that mean that this trade will do the same thing...Heck No, but I'm not going to pass on this opportunity.
With that being said I did pass on the traded noted in the second set of pictures. In this example there was a double top that formed on the AUDUSD at an ABCD completion at some ratio confluence. Yeah I know, sounds pretty darn good, However if you look at the larger time frame chart, I was also predicting a bigger pattern to form and I felt that this move was strictly a little tease. When I woke up this morning I saw that it had rolled over a little bit but my first targets would have to be below that structure area to the left and well let's just say I'm more willing to sit out of a good trade and watch, then be involved in a trade that I don't feel comfortable with. Both trades have great reasons to enter and great reasons to stay away, whether you pull the trigger