After a successful 2618 short trade setup, we have gotten a VALID BULLISH GARTLEY PATTERN on FX:NZDJPY with a great RISK : REWARD ratio. Always remember to look for 3 important things BEFORE placing any trade, where's your entry, your exit if you are wrong, and your targets if your right. We know we are entering long @ 81.164 based on the pattern with our two targets @ 81.547 and 81.783. Lastly the most important thing that we MUST have, before even thinking about placing a trade, is the stop loss. For this setup, we are able to hide our stop loss below both the PREVIOUS SUPPORT ZONE and THE KEY PSYCHOLOGICAL ROUND NUMBER, 81.000. See the chart above for more details.
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. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :)
Ah never completed the D leg, did you catch this one?
NashC
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although a valid AB=CD
moneymaking
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Could share your chart with us, please? I don't see any valid ABCD move :(
moneymaking
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Hey Nashim, you are correct, the pattern has still NOT completed yet. No I didn't get involved in this one. Still have long pending order at the D leg completion :)
DrZ
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Totally agree! Great analysis!
moneymaking
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Hey Fan, thank you. Appreciate it :)
moneymaking
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UPDATE #2: Hey guys, unfortunately we just missed hitting the 1st target by few pips. And we got our stop loss hit, therefore all positions are now CLOSED for this setup. Out with small loss.
moneymaking
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UPDATE #1: Hey guys, we just got our entry triggered right with the opening gap. Trade is ACTIVE now. Good Luck to all :)