Hello to the community of Traders! As this is my first idea published to all of the users of Trading View, I would highly appreciate your feedback, this would mean a lot to me regardless of being positive or negative.
Now stepping into the point, this trade would be a risky one as I am looking for a counter trend move expecting a minimum fulfillment of Gartley pattern which completion point aligns nicely with structure support. On the other side we can see that the previous Shark pattern played well, meeting both TP's. As I am already shorting this pair, the RR is very nice with SL of only 30 pips and potential gain of 230 pips using a lower time frames for entry.
Now stepping into the point, this trade would be a risky one as I am looking for a counter trend move expecting a minimum fulfillment of Gartley pattern which completion point aligns nicely with structure support. On the other side we can see that the previous Shark pattern played well, meeting both TP's. As I am already shorting this pair, the RR is very nice with SL of only 30 pips and potential gain of 230 pips using a lower time frames for entry.
Trade active:
Still holding for 120 pips more. Last support zone on the way down before the target.
Comment:
Comment:
This Hammer type rejection off the 0.6640-ish strong support and also 200 MA are good reasons to take partial profit or close the trade and observe next move of The Market.
Comment:
Interesting MACD and RSI bullish divergence can be observed on H1 and M30 time frames which can be taken as a warning signal for bears who might be loosing strength. On the other side though from H4 and Daily time frame perspective very possible for the price to head down for one more push at least before any major correction. I am holding the trade trailing the SL. Do you?
Comment:
Reason: Bullish Shark spotted on the way, possible pull-back. Carefully watching price action at these levels.
Trade closed: target reached:
Target reached quite fast. No observing price action here. Daily trend line may support this bullish Gartley to play out. Considering the recent strong bear move though I doubt that we can get to TP2. TP1 is a nice daily retest of broken support if Gartley confirms. Good luck!
If you have any questions do not hesitate to message me. Congratulations to all who followed this idea.
If you have any questions do not hesitate to message me. Congratulations to all who followed this idea.