GBPJPY 1H, two potential Gartley formations setting up.

FX:GBPJPY   British Pound/Japanese Yen
3 months ago
There's two potential Gartley formations setting up on the GBPJPY             1H chart. The bearish one completes up at 129.17, while the bullish one completes down at 127.19. However, with the bullish Gartley you might want to wait for a lower entry as is may not have a 1:1 Risk:Reward depending on your stop loss rules (I use a 1.13 Fibonacci extension from A-X for my stops). Also, although this is 1 hour chart the GBPJPY             has a large ATR, so be sure to check it's within your maximum risk limit.

Good luck, happy trading

3 months ago
Trade active: Long at 127.191
3 months ago
Trade closed: target reached: Closed half of my position, as my first target has been hit. Stops now moved to break even, with my second target up at the 618 retracement.
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 Billing Sign Out