Akil_Stokes

EURAUD: BRACKETING THE EURAUD WIT BULLISH & BEARISH SETUPS

FX:EURAUD   Euro Fx/Australian Dollar
Hey traders, welcome to a new week and a new month of trading!

Here on the EURAUD             we a bracketed order situation where we have two potential advanced pattern formations setting up in a both a bullish & bearish Gartley formation.

With many of these markets still looking to be in consolidation, these are the times when we want to stay alert for pattern formations.

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Fahad_88
2 months ago
Do you trade the EURAUD, Akil?
+1 Reply
Akil_Stokes TOP Fahad_88
2 months ago
I recently just added it back to my Day trading portfolio but I no longer swing trade it.
Reply
Fahad_88 Akil_Stokes
2 months ago
Are the patterns you trade on it (as per your backtesting), profitable?
+1 Reply
Akil_Stokes TOP Fahad_88
2 months ago
yes
+1 Reply
Jagsp
2 months ago
Good catch.. in bulish trade. Just entered and happen to see you have same idea published. Feel good..
+1 Reply
Akil_Stokes TOP Jagsp
2 months ago
Awesome! Good luck in the trade Jagsp!
Reply
Jagsp Akil_Stokes
2 months ago
I was stopped out.. I may have to revisit my stop placement for this pair. My plan is to take fib 127 of CD. Should I have to take account of ATR. Which takes precedence?
+1 Reply
Akil_Stokes TOP Jagsp
2 months ago
I don't think using the ATR is a bad idea but until you test it I would stick to the stop loss that you used in your backtesting. Deviating from that may affect your expectancy.
Reply
antonyde
2 months ago
Hello Akil,do you normally take that trade even if it's 3 pips away from the limit order? Thanks
+1 Reply
Akil_Stokes TOP antonyde
2 months ago
No, i take the trade only when my limit order is hit
Reply
antonyde Akil_Stokes
2 months ago
Ok! We see that 1.27 extension in on 1.4573 In what price do you set your limit order let's say for that situation? Maybe 1.5 pip before?
+1 Reply
Akil_Stokes TOP antonyde
2 months ago
I'll front run 2-5 pips depending on the trade
Reply
antonyde Akil_Stokes
2 months ago
OK Great!Thank you very much!!
+1 Reply
Akil_Stokes TOP antonyde
2 months ago
No problem
Reply
QuileHills
2 months ago
It broke the "X" point of the bullish Gartley but not the 1.618 expansion of the A-B leg. Is it still a valid Gartley? Not trading it, just slowly studying Gartley and other patterns to incorporate into my trend/channel strategy.
+1 Reply
Akil_Stokes TOP QuileHills
2 months ago
Advanced pattern formations are invalid once the "X" leg is violated. Some will need a break and close beyond
Reply
PHL
2 months ago
beautiful and motivational trade! knocked on the door of my SL by 5 pips and ended up successful at TP1 an hour or so later :)
+1 Reply
Akil_Stokes TOP PHL
2 months ago
Gosh I hate when that happens!!
Reply
PHL Akil_Stokes
2 months ago
Sorry, I meant I ended up in profit but was almost stopped out ;) Luv it!
+1 Reply
Akil_Stokes TOP PHL
2 months ago
Ahh in that case even better. "RING THE REGISTER!"
Reply
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