Fibtrader786
Long

EURUSD bullisg Gartley

FX:EURUSD   Euro Fx/U.S. Dollar
441 5 6
21 days ago
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.
21 days ago
Comment: Move your S/L to break even now.
21 days ago
Comment: Stopped out. Missed P/T by 10 points :-).
lcyilin
21 days ago
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
Fibtrader786 lcyilin
21 days ago
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
21 days ago
@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
lcyilin
21 days ago
It was a good trade, well managed. What do you look for in moving the S/L to break even?
Reply
Fibtrader786 lcyilin
21 days ago
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.
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