Gartley pattern forming on GBPCAD

FX:GBPCAD   British Pound / Canadian Dollar
40 3
A pretty good Gartley pattern is forming with an entry at 1.8273 with the first target at 38fib (1.8349) and the second at 63fib(1.8420). Great risk ratio with around 2:1. Stoploss below X at 1.8202.
Nice one !!
Can you explain how did you calculate your stop?
I normally put my stop around X with the spread of my broker. I have an average spread of 4 pips on GBPCAD so 1.8206 - 0.0004. The pattern is invalidated if it go beyond X so that gives me a little bit of space to put my stop.
Ahmed-J Patrick_Tremblay
It's true the pattern is invalidated if it goes beyond X. However you still should give it some room bigger than the spread. Personally, I put my stop beyond X by the ATR of the entry candle.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out