QuileHills
Short

EURNZD Potential Bearish Gartley

FX:EURNZD   Euro Fx/New Zealand Dollar
226 3 6
2 months ago
After just barely missing the 78.6% retracement of the impulse leg EURNZD             is potentially going to set up a bearish Gartley for a short with a great risk reward targetting first the 38.2% retracement of point A-D followed by the 61.8% retracement of the same points.

With the 127.2% extension of the A-B leg coming so close to the origin of the first impulse leg you can set up a very tight stop loss for the order 10-20 pips above 'X' making for a healthy R:R

The positions shown have the SL just 10 pips over 'X', giving R:Rs of 8.36 and 13.62 for T1 and T2 respectively though if the set up completes I may be more forgiving with my SL, placing it 20 pips above 'X'.
2 months ago
Trade active: Opened but with a slightly more conservative SL than the position shown on this chart to give the trade some breathing room.
Hanu727
2 months ago
Hi Quile, I can't figure out where your SL is at.

Trade looks good so far.

Goo luck bud
Reply
Hanu727
2 months ago
Is your SL at 1.5668?

What was your entry at?
Reply
QuileHills Hanu727
2 months ago
My SL in the trade I ended up making is at 1.56976. Entry was at 1.56413
Reply
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