AUD/NZD: Weekly bullish Gartley at support?
In the weeks to come I will be looking for ending structures / patterns and/or momentum divergence on smaller TF's to hopefully get a good longterm long entry...
Bullish Gartley / AB=CD PRZ is my preferred entry but I will enter sooner or hold off if PA tells me otherwise.
3 examples of entries on chart:
1) Entry at re-test of 0.618 retracement of last big move up with possible test of lower BB.
2) Conservative entry at top of PRZ and equivalent AB=CD completion >> my preferred entry!
3) Agressive entry at bottom of PRZ and exact 0.786 Gartley completion.
Tight SL 50 pips below Gartley completion, wide SL either below 0.886 or below the low and 1.0000 psych level...
Targets for all: TP1 at possible resistance zone in case we continue to range and TP2 at 1.27 ext. of last big move up.
Will adjust SL and TP's depending on the actual entry level.
Choose your entry wisely by looking for confirmation...
Bullish Gartley / AB=CD PRZ is my preferred entry but I will enter sooner or hold off if PA tells me otherwise.
3 examples of entries on chart:
1) Entry at re-test of 0.618 retracement of last big move up with possible test of lower BB.
2) Conservative entry at top of PRZ and equivalent AB=CD completion >> my preferred entry!
3) Agressive entry at bottom of PRZ and exact 0.786 Gartley completion.
Tight SL 50 pips below Gartley completion, wide SL either below 0.886 or below the low and 1.0000 psych level...
Targets for all: TP1 at possible resistance zone in case we continue to range and TP2 at 1.27 ext. of last big move up.
Will adjust SL and TP's depending on the actual entry level.
Choose your entry wisely by looking for confirmation...
Comment:
Getting close to my preferred entry, watch it closely....
