EURJPY Potential Gartley Short

FX:EURJPY240

Euro Fx/Japanese YenFXCM

Description

⋅ Mar 1, 2017 3:45 AM

Hey, mates. A potential gartley on eurjpy 4H. Almost completed.

Trade active

⋅ Mar 1, 2017 5:16 AM

orders got filled

Trade closed: stop reached

⋅ Mar 2, 2017 4:04 AM

Went out of this trade:)

Comments

sanmed02

⋅ Mar 1, 2017 12:42 PM

agreed

Alexander_Nikitin

⋅ Mar 1, 2017 12:49 PM

@sanmed02, :)

UnknownUnicorn832543

⋅ Mar 2, 2017 4:42 AM

Hi Alexander,

I still think that this is a bearish setup. The price is consolidated within a descending channel and a double top just formed, so my guess is that even though your Gatley pattern might not have worked perfectly, the price is still going down.

Regards

UnknownUnicorn832543

⋅ Mar 2, 2017 4:54 AM

Alexander_Nikitin

⋅ Mar 2, 2017 5:04 AM

@Gruwel, If the pattern didn't work I go out. I am not looking for confirmations that my initial belief was true. If it hit the stop, I am to admit that I was wrong:)

danielrobinson2910

⋅ Mar 1, 2017 8:24 PM

Any suggestions whether i should enter now

sanmed02

⋅ Mar 1, 2017 11:16 PM

@danielrobinson2910, sure

Alexander_Nikitin

⋅ Mar 2, 2017 4:08 AM

@danielrobinson2910, My personal rule say that the pattern is invalidated if it touches X. That's why I place my stops past X.

dtpham1020

⋅ Mar 1, 2017 5:18 PM

Holding at 119.719 and 120.141, thank you for sharing your work.

Alexander_Nikitin

⋅ Mar 1, 2017 5:20 PM

@dtpham1020, i wiil get out if 120.237 is hit:)