Long AUDCAD: Gartley + Shark at Channel Support

FX:AUDCAD   Australian Dollar/Canadian Dollar
a year ago
AUDCAD             has completed bullish Gartley and bullish shark patterns at significant channel support. Two unhit daily pivots sit above price to add to bullish bias. Targets are placed at .382 and .618 retracements of CD.

Confluence in the PRZ:
  • Bullish Gartley pattern completion
  • 1.272BC projection ( Gartley )
  • AB=CD ( Gartley )
  • Bullish shark pattern completion
  • 1.618BC projection (shark)
  • 4AB=CD (shark)
  • 2 unhit daily pivots above price
  • Possible pitchfork support
  • Strong channel support at PRZ

Bullish Channel:

Note: ANZ Business Confidence released within an hour. I will not be entering AUD or NZD trades until news release.

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a year ago
Trade active
a year ago
Comment: I have a limit order to add to the position at the completion of this 15m bullish Gartley:
a year ago
Trade closed: target reached: T1 achieved and full profit taken before NFP tomorrow, +92 Pips!
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Similar views, Best of luck
Audcad long setup
glennmercer PRO Fxtoronto
a year ago
Yes I saw your post - nice setup
+1 Reply
a year ago
Hey,Teacher ;)

what do you think about this chart
AUDCAD.....Possible for Elliot waves :)
glennmercer PRO Hiisham
a year ago
Hi Hiisham - Long AUDCAD I agree with :D Some things to consider when counting Elliott Waves:
1) Wave 4 cannot overlap wave 1 (except in leading/ending diagonals and triangles)
2) A 5 wave motive structure is followed by a 3 wave correction. Maybe your 5 wave correction is leg A of a zig-zag?
Very nice trendlines, the bottom one may hold act as support for the long setup
Hiisham glennmercer
a year ago
ooh,thank you
EW....Still learning and try to fin the impulse wave,I'll edit on my chart and try about the EW

thank you
glennmercer PRO Hiisham
a year ago
Hey no problem we're all here to learn keep up the great work
+1 Reply
Nice CHart!
+1 Reply
glennmercer PRO tntsunrise
a year ago
Thanks TNT
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