Mandeep.Singh
Long

Bullish Gartley - USD/CAD

FX:USDCAD   U.S. Dollar / Canadian Dollar
149 6 6
After not much movement from Yellen's speech, I've decided to take the gartley on this pair. Expecting price to reverse around this key area of support/resistance . This pair, according to my rules has had good success with gartley patterns and my targets are set at 0.382 and 0.618. Conditions are overbought and there is divergence.
Hi mate, conditions are oversold you mean:)? why do you now apply extension?, nice setup
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Hi, yes I meant oversold haha, apologies! What do you mean by apply extension?

Thanks
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Zlatanera PRO Mandeep.Singh
Fibonacci extension levels from the AB being 127% confirming your 78.6 retracement on XA :)
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Oh yes, some people prefer to trade the gartley when the D leg hits 0.786 retracetment, some prefer 1.272 extension (myself, because of risk/reward ratio) and others wait for confluence of both those levels. For my specific set of rules, and from my backtesting, I found that 1.272 was a better level to trade the gartley.
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Zlatanera PRO Mandeep.Singh
I agree, i feel often that the market rather tends to move on the extension of completion on the harmonic patterns rather then on the exact fib level bein 78.6... IE looking at a potential Cypher pattern on the EURGBP where the D completion is at the 78.6 but the 127% is at the 88.6%, but since the trade setup with the stoploss being beyond the X it doesnt really matter to much maybe you can gain some pips in this case entering on the 127 @ 88.6% rather then being agressive on the 78.6%... Who knows, nice to share information though appreciate the answer
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Yes I agree, and definitely useful!
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