Im looking further into AUDNZD today. im looking to sell the breakout (after consolidation) to hedge my logn and the incoming gartley. further i will be buyin the gartley with a 3 target setup (382/618/shark completion at upper 4h trendline)
i keep you updated on the breakout sell. gartley orders are already placed.
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gartley setup. stop is wider than usally with gartley, but at 0795 we had a nice round number above us, we also had alot of support that we could include by widening the stop just a bit, so i decided it was agood call. yes the RRR on TG1 isnt the best now, but its the overall RRR that counts and thats still good enough.
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agressiv breakout sell below the solid orange line. conservative breakout sell. wait for flag (or triangle) - following the blue dashed line - and sell below the solid blue line
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Breakout target setup. Remember its a hedge against the gartley. i im only planning on bringing my stops to BE at the second target. if we do this after TG1 we most likly will always go out BE. based on the gartley. stops and entry will maybe change a lil depeding on what the consoldiation does now
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breakout orders cancels, setup isnt clean enough any more and RRR got too bad. i will still look at the area tho. maybe we can find a new entry later on. gartley so far still valid and waiting
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im currently looking at this. not sure if i will get a suitable entry since i wanna see a little bit of an abcd retracment to the upside now. but if we get this i will be looking to sell
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sold below 1m consolidation
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took TG1 at 1:1 and got stopped out for the other 2 positions. so overall 1/3 of a full position loss
also looking to reenter if we can break the current upward consolidation to the downside
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the reentry got to TG1 again, lets see if we can break down this time to get to the gartley fill. stops to breakeven this time.
Trade closed: target reached
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breakout TG2 hit.
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Gartley fill long.
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with a little bit of reaction at point D im now pulling my stop close to point D, dont wanna see new lows