domavila
Short

AUSUSD 240 Min Bearish Gartley

FX:AUDUSD   Australian Dollar/U.S. Dollar
I have been waiting for this Gartley to complete for quite sometime and it finally has. The fibonacci levels on the AUDUSD             pair are optimal and this is a beautiful Gartley!

This, with RSI in overbought territories, gives us a nice case to take out a short position.

Targets are shown on my chart.


domavila
Trade active: It looks like we are having a nice Type 1 reaction here.

I will manage this trade aggressively in order to manage risk. My stop loss has been moved to break even and we now have a free trade and are playing with house money.
Trade closed: stop reached:
snapshot
Trade active: This trade has not been closed!! I fat fingered in the comment section. Please ignore
Comment: I miss labeled the title and this is a bat. Sorry for the confusion.
snapshot
Trade closed: target reached: Target 1 hasbeen hit. I have closed 1/2 my position, raised my stop loss and will let the other half ride.
Trade active
Comment:
snapshot
its not a gartley lol
+1 Reply
domavila BLUE43
Ooops. Your'e right! I need to get some sleep. The perfect 0.618 threw me off. The Gartley has a 0.786 retracement and this has a .866. This is even better, I like bats better.
Good lookin out brotha!
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