Fxprotrader

EURUSD Pending Gartleys To Conitinue The Upside Moves

FX:EURUSD   Euro Fx/U.S. Dollar
EURUSD             is still moving into a rising channel where we meet two pending gartleys. They may work back to back based on current structure giving us two great opportunities. Trading the smaller bullish one i will personally aim for the completion of the larger bearish .
Hi @Fxprotrader has the smaller gartley completed?
Reply
Fxprotrader SteynTrade
Not yet..
+1 Reply
SteynTrade Fxprotrader
Ok, how precise does the completion have to be to be a valid pattern?
Reply
Fxprotrader SteynTrade
Price must touch the 1.27 fib level of the AB wave
+1 Reply
SteynTrade Fxprotrader
Ok thanks, can it overshoot some?
Reply
Fxprotrader SteynTrade
What do you mean?
Reply
SteynTrade Fxprotrader
It has not touched 1.27 but say it goes over 1.27 is the pattern still valid? and by how much can it go over?
Reply
Fxprotrader SteynTrade
Yes od course it's valid.. It won't be if price retrace below X point. In fact i believe that after the completion price we reach the trendline representing an uptrend. From these we might see a bounce. So if you want to trade this pattern make sure you place your stoploss a little deeper than X point
+1 Reply
SteynTrade Fxprotrader
Great that got it. Understand now. X marks the spot :)
Reply
MyFxLife Fxprotrader
Hi
In gartley the CD move should be 1.272 of move BC not AB
Reply
Fxprotrader MyFxLife
Yes that's right, my misteke.. Thank you for your comment..
Reply
Fxprotrader Fxprotrader
*mistake
Reply
MyFxLife Fxprotrader
According to this point D should be somewhere around 1.1214 but we already had 1.1188. Do you think the pattern is still valid?
Reply
SteynTrade SteynTrade
A valid pattern completion?
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