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Alexander_Nikitin
Jun 23, 2017 3:51 AM

A gartley pattern. gbpusd. Short

British Pound/U.S. DollarFXCM

Description

Mates. A gartley pattern is completed as Terminal Price Bar appeared. Wait for it to close and then wait for another bar to close to get the confirmation. I like this potential reversal zone not only because it is tight enough and the levels show strong confluence but also because of 1.27 even number in it. Typically these level act pretty good.

Trade active

Terminal Price Bar was follow by nice dodji candle. Entered at the top level of PRZ

Trade closed: stop reached

Closed at stop. Looking for a crab pattern a bit higher
Comments
Swerver
Had this on my sights earlier, on holidays so not posting, just playing :)
Took this one at the 886, doji right on lvl, no close above, entered next candle
Alexander_Nikitin
@Swerver, Nice:)
Slmdmrc
What is your stop and tp1 here? Thanks
Alexander_Nikitin
@Slmdmrc, Do you really want my sl and tp? Traditional levels are described in the comment above.
prince125700
SL and tp?
Alexander_Nikitin
@prince125700, As usual stop is above X. Conventional targets are 0.382AD and 0.618AD.
Melchizedek
I usually set my Sell Order below the current channel flag, but since you offered up this tip I am setting it just below the Price to pick up a few more pips during this down trend. Thanks fella!

Alexander_Nikitin
@Melchizedek, you are welcome.
Melchizedek
@Alexander_Nikitin, Ha Ha, you convinced me; they ARE good for something, when they come in the right place: like a channel flag in a downtrend!
Alexander_Nikitin
@Melchizedek, Hehe:)
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