Alexander_Nikitin
Short

USDJPY short with gartley

FX:USDJPY   U.S. Dollar/Japanese Yen
Hey, mates. Gartley pattern just completed. Entry is blueline,. stop is red line and target is green line. Watch the explanations below the description (it is called "sample video")
I think B goes too deep for a Gartley. Maybe a butterfly later?
snapshot
Reply
B-point should at least touch 0.618XA and not touch 0.786XA. Here we have 0.705. This ratio lays within the gartley range. So the completion is 1.272AB
+1 Reply
purpurato59 PRO Alexander_Nikitin
I understand Gartley completes at 0,786 XA and we past that point already.
Reply
It depends on personal rules. 1.272AB gives better risk to reward. No matter what is the completion point, gartley is valid if price didn't hit X (some traders). On my chart it is 0.903XA. Once entered the trade is held until price hits tp or stoploss:)
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Alexander_Nikitin Alexander_Nikitin
some traders don't want price to close beyond X:))
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vdot_1004_2 purpurato59
i said same. reason i did not short. good catch that played today
Reply
Thank you very much for your help today, I actually placed my stop at 105.000 with a TP at 104.290. Thank you for your analysis and words of wisdom. Have a great day my friend.
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