J_Graystone
Long

NZDUSD Gartley Pattern Completion

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
115 3 4
The 786 Completion lining up exactly with the 127 extension of the A-B leg. Looking left for structure looks like a good opportunity to buy here.
ForextionEight
2 years ago
Couple of questions....1. you meant BUY, right? Not sell? 2. And your R:R looks wrong.
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J_Graystone PRO ForextionEight
2 years ago
Yes Buy. I put LONG Opportunity. Secondly, the R:R can be slightly higher on this pattern with these particular rules of engagement as I have back tested this pattern significantly and over time it has proved to provide a profit even with the R;R as it is. Some patterns can lose 70% of the time but STILL be profitable if traded the correct way.
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ForextionEight
2 years ago
OK, thanks for clearing that up. Trade looks good and I will probably take it however, I'd still keep my S/L at the X point and no more. JMHO. Good luck! And thanks for the analysis.
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