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
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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
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Trade active
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This trade has not been closed!! I fat fingered in the comment section. Please ignore
Comment
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I miss labeled the title and this is a bat. Sorry for the confusion.
Trade closed: target reached
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Target 1 hasbeen hit. I have closed 1/2 my position, raised my stop loss and will let the other half ride.
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!