Fxprotrader

EURUSD Pending Gartleys To Conitinue The Upside Moves

FX:EURUSD   Euro / U.S. Dollar
724 14 26
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
Not yet..
+1 Reply
SteynTrade PRO Fxprotrader
Ok, how precise does the completion have to be to be a valid pattern?
Reply
Price must touch the 1.27 fib level of the AB wave
+1 Reply
SteynTrade PRO Fxprotrader
Ok thanks, can it overshoot some?
Reply
What do you mean?
Reply
SteynTrade PRO 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
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 PRO 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
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