We just got the completion of a VALID BULLISH GARTLEY PATTERN on FX:GBPUSD. All the details have been labelled on the chart above. My entry has NOT been triggered yet. We also have a good risk to reward ratio for this setup.
NOTE #1: We just got the reaction from the BOE Gov Carney Speaks couple of minutes ago.
NOTE #2: Keep in mind that we have Unemployment Claims news coming out today at 8:30 am.
Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Good Luck :)
Good work! You and I got this one exactly. But I'm gonna look to play this one LONG for the long term and not taking the usual profits at TP1 and 2. GL!
moneymaking
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Hey EverythingForex, thank you mate. Good luck to you as well :)
moneymaking
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UPDATE #2: If anyone was still involved in this trade, then the stop loss has been hit. All positions are now CLOSED for this setup. Have a GREAT WEEKEND everyone :)
TahirAli
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Yeah thats why I hate small stop losses because you need only one spike to get stopped out.
moneymaking
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Yeah, true :)
TahirAli
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Looks like this thing hit both of your targets after stopping you out.Bad luck mate.
moneymaking
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Hey mate, yes. Actually I did not get involved in this trade because if you look at "UPDATE #1" I pointed out that I was waiting for my entry to be triggered BEFORE the Non- farm payroll (NFP) news release. But the entry did NOT triggered in time, thus I closed my pending trades to avoid taking any type of unnecessary risk. This is one of my favourite rules that I have included into my list of trading rules. This rule has really kept me away from taking unnecessary losing trades. But there were also times when I closed my pending orders and after a certain new release, entry was triggered and both targets were reached. So this rule has both the GOOD and the BAD aspect to it :)
moneymaking
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UPDATE #1: NFP coming up pretty soon, the entry was NOT triggered. Therefore, I will NOT be taking this trade.
TahirAli
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Hi moneymaking,I missed the first entry as I was sleeping but waiting for a dip to enter at a lower price.
moneymaking
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Hey Tahir, even my entry has NOT been triggered yet. Let's wait and see what happens. All the BEST :)