Oztrade
Long

USDCAD - POTENTIAL 60M BULL GARTLEY - ADVANCED PATTERN

FX:USDCAD   U.S. Dollar/Canadian Dollar
175 2 4
Hi All, I wanted to share this potential long opportunity, looks to be USDCAD             also hit a smaller Gartley and hit both targets. With the X leg being the current B leg on this pattern.

We can see USDCAD             is in a period of consolidation havent broken the 1.29000 level - we hit it twice to present us with the BAT PATTERN which worked out well and hit our targets very easy.

If we continue upwards and break past A leg maybe we can look for a retrace to test the structure level to go long, I will see what other opportunities we have

I have marked the chart as always

Green for Entry - this will determine what your rules are with Gartley - some use the 1.272 Ext. Gartley should be
at the

1. X to A move presenting our B Leg at minimum 61.8% but not touching the 78.6%
2. B to C move - Minimum 61.8% retrace from A to B - but not passing the A leg
3. C to D should complete exactly at a 78.6% retrace from the X to A Move. and a 1.272% extension from the A to B leg, and also and exact AB=CD move which you copy the AB leg and Paste it from the C leg, when we have a perfect Gartley these will all line up exactly at the same position for our D completion.
4. In this case because our A to B move was longer than the 61.8% this is what pushes the 1.272% further down making our kill zone for entry anywhere between the 78.6% and 1.272% EXT

Stops - Red are 113% below X leg

Initial Targets are - 38.2% and 61.8% Retrace from our A to D Move - this being 1.272% entry level. Targets will be adjusted on D completion.

If pattern violates A Leg pattern is invalid.

All the best and happy trading.
KINGRI
a year ago
great work
Reply
KINGRI KINGRI
a year ago
SL HIT
Reply
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