dojitrader
Short

Looking for a Gartley . . .

FX:GBPJPY   British Pound / Japanese Yen
168 2 1
Needs to turn up from here or it won't be much the of a trade, but,
if it hits the entry the possibility is around 400 pips of reward.
ab=cd is also showing great harmonics.
The stops should go above X and that's a large amount for me, so
I'll be looking for the candles to provide a good entry with lower risk.
The possibility of re entry is also available.
We'll know soon enough !
The ab=cd pattern was a good idea, but, once again, my stop placement was horrid !
And, once again, I lucked out. Being away the charts at 1900GMT and with the candles
showing more of a collapse than a drift. I did not place a limit order. Had I been watching
charts and seen the 2000 gmt candle - that would have been the perfect set up for a buy
with stops just below the candlestick low. Lucky with one, unlucky with the other, I guess.
Looking for a place to sell into a trend continuation lower. Not sure where yet.
Reply
Markets are moving faster than I am, so, I missed this entry.
Perhaps it will drift down as the day lingers for another try.
At this point more interested in selling support with tight stops,
if this is a trend change or just a correction on a larger
degree, for a t/p around 167.00
Reply
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