Hey guys,
after being stopped out on the USDCAD trade we're back on track. This NZDJPY trade is similar to the previous. I want to pass down to you the philosophy of being on the majority side.
The more clues (that matters in the market) you have, the more likelihood the trade will have.
As explained above, here we have a deep Gartley formation that is already completed. As long as price won't touch the first hypotetical target though we will wait for another pullback into the entry level.
Being so deep, it makes the risk to reward ratio very appealing.
In addition to the advanced pattern formation we have different clues that make me predict an upward move.
Let's see how it goes.
If you have any question, please ask beneath.
Otherwise, see you in the next chart!
after being stopped out on the USDCAD trade we're back on track. This NZDJPY trade is similar to the previous. I want to pass down to you the philosophy of being on the majority side.
The more clues (that matters in the market) you have, the more likelihood the trade will have.
As explained above, here we have a deep Gartley formation that is already completed. As long as price won't touch the first hypotetical target though we will wait for another pullback into the entry level.
Being so deep, it makes the risk to reward ratio very appealing.
In addition to the advanced pattern formation we have different clues that make me predict an upward move.
Let's see how it goes.
If you have any question, please ask beneath.
Otherwise, see you in the next chart!
Comment:
Look at this nice divergence on 15m!
Comment:
2618 as new entry reason
Trade active:
Entry: 81,07
Stop: 80,91
Target1: 81,23
Target2: 81,37 (at the moment)
Stop: 80,91
Target1: 81,23
Target2: 81,37 (at the moment)
Trade closed: stop reached:
If you traded the 2618 like me you lost for about 4 pips, otherwise, first target achieved as Gartley pattern
Trade closed: target reached:
If you take this opportunity as a pattern trader, second target has just been hit!