Fibtrader786

EURUSD bullisg Gartley

Long
FX:EURUSD   Euro / U.S. Dollar
470 views
6
Buy this EURUSD bullish Gartley at 1.0753. S/L 30 pips lower. First P/T 40 pips higher.
This is more riskier pattern. Note the long bars coming to a buy point. Risk no more then 30 pips.
Comment: Move your S/L to break even now.
Comment: Stopped out. Missed P/T by 10 points :-).

Comments

It was a good trade, well managed. What do you look for in moving the S/L to break even?
Reply
Normally I let it run till either a S/L or first P/T is hit but today since this was a riskier set up I have chosen to protect myself a bit sooner.
Reply
Hi, great to see you are back! =)
Would you mind explaining on how you set your s/l and p/t? And why is this considered to be riskier? Thank you!
Reply
Hi,
If you look at the long bars coming in to your trade it means that there is a thrust and lot of selling going on. It means that the selling might continue in the direction of the long bars and therefore the trade is a bit riskier.
S/L and P/T are based on harmonic numbers. For EURUSD the harmonic number is 40 pips now.
Reply
lcyilin Fibtrader786
@Fibtrader786, Okay, now then I remember reading that in the book! Great to see how it is considered in the trade. Noted that, thank you!
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out