TradingView
glennmercer
Oct 14, 2016 2:35 AM

USDCAD Trendline Breakout: Sell Wave-(v) to Gartley Short

U.S. Dollar/Canadian DollarFXCM

Description

Hey traders! I like a short position here as we're riding a trendline and there's a missed pivot below price. On the daily chart, we have a big bearish candle following a pinbar, a clearcut reversal pattern. I want to be short on the pullback toward the completion of a Gartley pattern. If price breaches SL but does not hit invalidation level, I may re-enter depending on price action. After target is achieved, I want to continue short toward missed weekly pivot unless price action shows signs of bullishness. Happy trading!

Trade active

NOTE: This is now active but with new entry and SL. A triangle has been completed, which is our indication of bearish continuation. Therefor, entered at completion of wave-e with SL above peak of e. Same target. Happy trading!
Comments
dawid2830
on the daily chart we have the layout of the arm, head, arm, we can now have a downward trend
Hanu727
What do think about GU?

I know you were wanting to go long on GU.
glennmercer
I still like GU, but I would enter after this 15m closes:
glennmercer
If it closes red, I would wait on the sidelines for a bullish signal. I like GJ better at the moment
Hanu727
Cool. Let me know when you're active on this pair.

Thanks buddy.
Hanu727
Thanks Glen for all the updates.

You're a star buddy.

Good luck
glennmercer
No problem Hanu! Thank you sir you as well
More