dojitrader
Short

Perfect Gartley Increase Risk

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
141 6 1
X to A is down in an obvious 5 waves and the corrective/overlapping price action since would
indicate an attractive opportunity to short.
The shorter than .618 a to b leg has increased the risk beyond my comfort zone.
Even though the total reward is almost 3 to 1.
(I've just never been easy with more than 30/50 pips risk: logical as I try to be)
Yet, the ab=cd and A = C harmonics/symmetry sure look enticing !
Perhaps the candlesticks will guide my entry/stops or place an s/l just
above the , 886 retracement with an eye to re entry closer to X ?
Good Luck to All and to All a Good Night !!!!
(well it is almost xmas             )
How interesting !!!!
I was looking for an entry just under the Bat completion.
If I'd just look at my own charts I'd have seen that the ab=cd @ a 1.618 was a good place to start.
Geeeezzzz . . . .
Maybe the small double top will give me a retest for another chance to participate.
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My "imperfect" pattern is actually a decent Bat pattern which would be complet @ ,885 retracement.
*weekends are great for finally learning better rules for Bat's, eh ?"
So, I'm raising the short entry to .8380 with the same s/l
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traderWgun dojitrader
agree, but not sure how high it will good. I have sell orders at .8320 and .8350
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traderWgun traderWgun
*go
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Would have Sworn ! I typed "imperfect" Gartley and not perfect
cause, , , it is an imperfect pattern that increases risk.
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Bend my rules a little and this is still a valid trade set up.
It appears we are in the 3rd of 5 waves of the larger C wave.
This would complete a 5-3-5 zig zag very nicely.
So, actually, with an obvious 4 and 5 to the target area will
look enticing.
Next week will tell - have a good one !
Reply
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