Nico.Muselle
Long

USDCAD Bullish Gartley completion - ready for the taking

FX:USDCAD   U.S. Dollar/Canadian Dollar
A beautiful bullish Gartley completed on USDCAD             . We're looking for targets at the 0.382 and 0.618 retracements both at previous structure. Keeping a 20 pip stop below X, we're looking at a nice risk/reward ratio.
With all due respect, thats not a GARTLEY, but a potential BUTTERFLY! I hope you dont mind me saying so my friend.
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I don't mind at all, and yes it could be a potential butterfly. However, the AB-leg did not close below the 0.786 retracement of XA.
It all depends on what your rules are for a specific pattern, for me a butterfly needs to close exceeding the 0.786.

As always though, only time will tell where the market will be going :)
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BBFX Nico.Muselle
snapshot


This is how I envisage this BUTTERFLY ( as I see it - :-) ) . As it happens, it completes exactly at the point of a 5-0, following the SHARK completion in the daily! :-)
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BBFX BBFX
I got in this at the top , at SHARK completion.... fingers crossed!!
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Well, we all have our own trading strategy, which is a good thing, otherwise we would not have buyers when we want to sell or the other way around.
Good luck ! :)
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BBFX Nico.Muselle
Thanks NicoMuselle. You too my friend. :-)
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Worked out beautifully!! Well done. :-)
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Yep, almost reached my T1. When that is reached, I'll cash in half of the position and move stops to break even hoping for T2 :)
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