EURUSD Pending Gartleys To Conitinue The Upside Moves

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Euro Fx/U.S. Dollar (FX:EURUSD)

FX:EURUSD Euro Fx/U.S. Dollar

eurusd gartleypattern

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?

SteynTrade

Not yet..

Fxprotrader

Ok, how precise does the completion have to be to be a valid pattern?

SteynTrade

Price must touch the 1.27 fib level of the AB wave

Fxprotrader

Ok thanks, can it overshoot some?

SteynTrade

What do you mean?

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?

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

Fxprotrader

Great that got it. Understand now. X marks the spot :)

Fxprotrader

Hi
In gartley the CD move should be 1.272 of move BC not AB

MyFxLife

Yes that's right, my misteke.. Thank you for your comment..

Fxprotrader

*mistake

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?

SteynTrade

A valid pattern completion?

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