"AUDJPY GARTLEY SETUP" by trader morshedul.sazid — published November 23, 2015

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Long

Australian Dollar / Japanese Yen (FX:AUDJPY)

FX:AUDJPY Australian Dollar / Japanese Yen

We could see higher highs with higher lows: Probably a a chance to grab the trend continuation because of the bullish gartley .

Trade active

Trade closed: target reached: Solid 93+ Pips and closed.

nice one!
what do you think of this pending short though?

mcpeacocks

Well, I kind a agree to that but I used to trade it in a different way. I used to wait for a breakout and then traded the pullback. It gave me nice RR. anyway your chart shows a complete downtrend ( lower lows). You have a good stop at 92.840. Good luck

morshedul.sazid

cheers! thanks for the reponse! much appreciated.
if i understand you correctly with regards to breakout trading, you would wait for the falling wedge to break to downside, and then wait for it to retest the wedge and then enter the short? you SL would then be much closer to entry? like so?

mcpeacocks

exactly :)

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