Here we see a Gartley pattern on the Euro verses the Yen charts, and i believe the market has perfectly projected us to make this trade.
The reason this is a perfect trade is because , 1: we have a pattern with a pretty solid success rate. And 2: We have linear regressions for both 100 and 200 moves suggesting an upward move.
The last 100 moves suggests that the market is bearish but will be have a retracement up into our limit
The last 200 moves suggests that the market is bullish and will continue to rally up into the positive deviation.
So i have placed my actions as follows:
Limit: at point A or the 1.618 extension of the BC leg
Entry: point B for a guaranteed reversal of trend
Stop: Point X because if the market etends beyond X then the pattern is a bust.
Thanks for checking this out , please follow , like comment and message me with any questions regarding the trade.
As always thank you and Good Trading!
The reason this is a perfect trade is because , 1: we have a pattern with a pretty solid success rate. And 2: We have linear regressions for both 100 and 200 moves suggesting an upward move.
The last 100 moves suggests that the market is bearish but will be have a retracement up into our limit
The last 200 moves suggests that the market is bullish and will continue to rally up into the positive deviation.
So i have placed my actions as follows:
Limit: at point A or the 1.618 extension of the BC leg
Entry: point B for a guaranteed reversal of trend
Stop: Point X because if the market etends beyond X then the pattern is a bust.
Thanks for checking this out , please follow , like comment and message me with any questions regarding the trade.
As always thank you and Good Trading!