GBP/AUD: Possible path to completion of the large Gartley
Patterns and path to consider to get to completion of the large (green) Gartley as posted in my previous idea's.
Very hypothetical but still a good way to try and identify possible entry levels for the "short triangle breakout scenario".
The blue Gartley could have already completed C and thus the red arrow might point to the correct path as drawn here in this private idea:
This scenario however could give us an ideal entry level at that upper triangle boundary, one to keep in mind...
For that ideal entry I would take the conservative SL above C of the green Gartley but one could very well decide to take the tighter SL as suggested on the chart.
For the alternative scenario one would look to enter hort on a re-test of the lower triangle boundary of after some sonsolidation after that trendline is broken. Therefor it is best to enter at market after confirmation instead of taking the short trades as in the chart.
Some people might very well consider trading off the completion of the smaller blue Gartley too!! I am considering it anyway, i.e. with conservative TP of near to 100% at the 38.2 retracement of CD... I will post an idea on it if I decide to take it.
Very hypothetical but still a good way to try and identify possible entry levels for the "short triangle breakout scenario".
The blue Gartley could have already completed C and thus the red arrow might point to the correct path as drawn here in this private idea:
This scenario however could give us an ideal entry level at that upper triangle boundary, one to keep in mind...
For that ideal entry I would take the conservative SL above C of the green Gartley but one could very well decide to take the tighter SL as suggested on the chart.
For the alternative scenario one would look to enter hort on a re-test of the lower triangle boundary of after some sonsolidation after that trendline is broken. Therefor it is best to enter at market after confirmation instead of taking the short trades as in the chart.
Some people might very well consider trading off the completion of the smaller blue Gartley too!! I am considering it anyway, i.e. with conservative TP of near to 100% at the 38.2 retracement of CD... I will post an idea on it if I decide to take it.
