GBPAUD 30 Bullish GARTLEY PATTERN @ 1.9550

FX:GBPAUD   British Pound/Australian Dollar
10 months ago
Hi guys,

I actually studied the Gartley pattern from a book named "Trade What You See" by Pesavento. It uses the Gartley pattern in conjunction with the famous AB=CD pattern giving us a nice trading range maybe to "dollar-cost-average" into a trade, reducing overall risk.

Back to the trade idea, it is a bullish GARTLEY pattern @ 1.9550 stop loss will be placed below the X leg which we use as good support in this case. Targets will be at the 38.2% and 61.8% fibonacci levels. IF/WHEN first targets are met, half of the position would be closed for profit and stop loss for the second half of the position will be moved to break-even, ensuring a risk-free trade.

Thank you for your support.

Trade Numbers:

Risk: 50 pips x 2 = 100 pips
Reward #1: 70 pips. R:R = 1:1.4
Reward #2: 115 pips. R:R = 1:2.3

Plan your trade... Trade your plan.
10 months ago
Order cancelled: Ahhh it came 5 pips from being filled and it was a winning trade. But no to worry, on to the next one!
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out