dojitrader
Long

Bullish Bat Perhaps ???

FX:EURUSD   Euro / U.S. Dollar
106 6 0
A nice little trade to fill the gap - If - you think it still needs to be filled.
Low risk at entry. My only concern is that it will turns around before
it reaches entry level. The candlesticks might get me into this trade
early ~~~~
I don't think I'm skilled enough to trade failed setups :) just yet.
Reply
You probably meant to say an invalid set up as this has not failed
until I'm stopped out, right ?
Reply
Well, it could happen that way. I guess I'm thinking that the support/resistance is not
that strong and being so nearby would require quite a drop from point D in which case
I'll be stopped out of the trade.Then I might be looking to sell any retest of that
broken support.
Reply
That's my fear right. All that support turns into resistance if price makes it to 0.886. So if it completes at that level it will likely continue down. no?
Reply
Yes, there is more support a little higher up, BUT, the A to B leg is
just to short for me to call it a Gartley. For me it has to be .60 or greater.
Reply
i would take this as a gartley. the 0.786 retracement co-incides with the small downward mini-channel and major upward channel.
Reply
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