GBPAUD - let your profits run - Stop & Reverse

If you entered a short based on the Gartley (I missed the entry as I was sleeping), you should be well in profits now, TP1 reached and well on it's way to TP2.

According to my trading plan I normally put TP2 at the 0.618 retracement of BD but in this case I would let it run till the 0.786 and attempt a Stop & Reverse to take benefit of the Cypher pattern that is forming now. Once the .618 is reached, move your stops from break even to the .382 extension to protect your profit and see where this retracement takes you.

Let me know if you have any questions and may the pips be with you !