Fxprotrader
Short

Peniding Bearish Gartley Pattern at AUDCAD

FX:AUDCAD   Australian Dollar/Canadian Dollar
Price broke an impulsive wave better seen in a higher time frame and now is at the begging of a coorective structure. A bearish gartley pattern is about to complete giving us a good sell setup.
Trade active
Trade closed: target reached: First target reached. We may now move stoploss at second trade to breakeven for a risk free second trade.
Trade closed: target reached: Second target reached.. This setup worked well..!
Hmmm the trade worked out but I dont think that's a valid gartley at all...no issues with tweaking the rules a little but i think this was way off.
anyways.,.whatever works for you i guess..cheers
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Fxprotrader anthony.pham00
I am really suprised reading that this way off.. can you please explain why this pattern was invalid? No offense at all.. Thank you for your comment..!
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anthony.pham00 Fxprotrader
yeh same..dont mean to offend as well....and i take that back whhen I said "way off"...I rechecked one of the legs which was ok.
However the BC leg. I could be wrong but shouldn't the BC leg be a 61.8% retracement of the AB Leg
It looks like it only touches the 50%.

Now a few things to consider.
Your measurement or drawing might be a tad off.
Our data might be different. I know FXCM data can show slightly but minor differences in the data

Cheers
+1 Reply
Is stil valid for entry?
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Fxprotrader jukilo2000
It's up to you now beacause as you see we have gone half of the distance.. If i were you i would wait if price could move back to form something like a double top and jump in.. I hope that helps..
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Nice, good luck :)
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