Sorry for posting it late, I have been busy. I actually left my orders with an ATM strategy and I got filled but the stop and targets were not placed. I guess that is why we forward test, right? I have no idea why that happened but I will have to figure it out. Anyways, if you front run your orders you may have been filled. We are on a bullish trend and with room left to go higher.
Good trading! Follow your plan!!
Trade active
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1st target hit, stops rolled to break even
Trade closed: stop reached
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Sorry for the delay. I got stopped out on Friday's news event.
How did you set the take profit in this pattern, please answer thanks.
GasperiniGS
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Fibonacci retracement, tg1 = 38.2. tg2 =61.8
pipstrading
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the ratio doesnt seem to meet the Gartley requirement?
GasperiniGS
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Thanks for your comment! The Gartley is traded in many different ways, so we may have different rules for it. It does not mean that my rules are better though. All I know is that those rules give me a positive expectancy.
Take care!
pipstrading
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thanks. but i view the current EURUSD structure in a different way. EURUSD broke the double tops neckline, it is retesting the neckline now. therefore, the rebound should not be deep, it should be just touching and testing the double tops neckline... any comment on this ?
GasperiniGS
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Everyone sees the market differently. I certainly understand what you are seeing, but I see it in a different way. That Doble top is in no man's land, the next structure (predicted move) is higher and we are currently trending up. We haven't violated previous outside return/pullback/retracement (green box). In other words, for me, we are bullish until we close below the green box (1.1240). Thanks for your comments though, it is interesting to see other traders perspectives!
GasperiniGS
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It does not mean that I am right and you are wrong. One of us is going to be wrong on this trade, but we could both be successful at the end of the year by trading consistently our trading plan, even though they may get opposite signals sometimes.
pipstrading
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thanks for sharing. yes, agreed with your point to see different perspectives. to me, double tops is less effective than double bottoms. that is why I am trying to look for 2nd options from tradingview, and happened to see your post.
GasperiniGS
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I do not believe that there is any difference between the efficiency of Double tops and Double bottoms. On the other hand, remember that all of this does not matter if one doesn't have a plan. I appreciate your looking for me for an opinion, but you should not look for other traders opinions to take or not take a trade. Find a strategy, backtest it, I trade it consistently!
pipstrading
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i am curious on your Gartley because i trade harmonics as well. so 78.6 and 88.6 is also Gartley pattern to you?