KVE
Long

USD/CAD: Gartley or fib..., choose wisely...

FX_IDC:USDCAD   U.S. Dollar/Canadian Dollar
184 2 4
1) Possible Gartley completion coming up around former support area ....

2) Lower down we have the 0.618 ret. of the whole up move with 1.618 ext. of AB...

3) In the end there is also possibly the breakout trade above the trendline ...

I will be looking for ending structures, reversal patterns and/or momentum divergence in the 2 main PRZ's...
Example setups on chart., will update depending on the potential entry.
Trade active: First long entry for me, at market just now.
snapshot

Example trade on chart with tight SL below the pattern's X...

I'm taking the wider SL and will add if it goes further down to my second entry level at the fib....
Trade active: Long added just now, 4H getting highly oversold, triple divergence on 1H and 15min...
One more to add at the lower entry zone on chart (1.2740)...
Comment: Last entry at 1.2740 just now..., SL below 1.26... We'll see, downtrend has been strong...
Comment: Second long closed at BE, will try to keep only the lowest entry of 1.2740...
Comment: New entry 1.2666..., will try to close 1.2740 at BE and keep the lowest entry again...
Trade closed manually: 1.2740 entry closed in profit, 1.2820 closed at BE, low entry from 1.2666 in the money also, I took partial profit and it stays open with SL at BE..., so it's not atually closed entirely but I won't update on it anymore...

I'm leaving this alone for now, will look for new setups next.
Veri Nice setup and Play!;)
Reply
KVE PacMan85
Thanks but not really great this one, first entry too high, though I am working hard to get it straightened out... So far it has worked out to keep my risk down and get lower entries at the same time...

This is the big advantage of phasing in your entries.
As long as I don't have to increase my risk above what was initially intended I may keep this up for quite some time... ;-)

It keeps dropping though, so we'll see...
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