TradingView
WilliamSurya
Mar 14, 2017 1:15 PM

GBPJPY: Gartley's Pattern Setup Long

British Pound/Japanese YenFXCM

Description

Reason to entry:
-Valid Gartley's pattern
-D point exactly at DESCENDING TRIANGLE pattern on higher timeframe
-RSI oversold
-D point = X point
-#2 target do not exceed DESCENDING TRIANGLE resistant (61.8%)
-RISK&REWARD? see for your self how huge it is

Entry:
-D point og gartley's pattern (127.2% extension)
-if Gartley's pattern failed, go short immediately (consolidation phase ended)

Exit:
-1# 38.2% retracement
-2# 61.8% retracement

Void if:
-price never touch gartley completion point
-beware that price may breakout the descending triangle pattern without bounce to resistant (gartley's pattern failed). if this happen, immediately short this pair

Remember that market is always right!
Manage your trade well!
More