SergeantPringles

XAUUSD - 1H - Gartley and triangle breakout

FX:XAUUSD   Gold/U.S. Dollar
160 0 5
9 months ago
We currently sittin at the breakout of the triangle and confirming it with a flag. if we can break above the flag look to buy.
Im further looking to sell if we complete the gartley .
9 months ago
Trade active: bough the break above the recent abcd swing.
TG1: retest of B point of gartley
TG2: gartley completion
TG3: runaway target at 1375 area
9 months ago
Comment: target 3 explaination. if we follow the break of the trendline and the triangle chances are there that we will go up to the white box, where i have my TG3
snapshot
9 months ago
Comment: TG1 hit. stops be
Im now looking to take TG2 profits at the gartley completion point and tog oshort there as well whiling im hoping for more upside for my TG3

since i see Gold overall more bullish im only taking a small 1:1 trade for gold, hoping to book some easy profits b4 the market goes higher
9 months ago
Trade active: TG2 hit for the breakout. now im selling the gartley with a one target setup. stop tight above X(dont wanna see new highs) and TG 1230 for a 1:1 trade
9 months ago
Comment: if you have room to add to the position (like i do with plain harmonics) or u want to still enter short but need a reason, then here you go
snapshot
9 months ago
Trade active: addon active
9 months ago
Comment: pattern stop to breakeven. addon stop to the last swing(orange line)
im looking for a further addon if we can break the current consolidation without spiking up too much
snapshot
9 months ago
Trade active: addon active. TG1 1233(382 CD). TG2 618 of CD leg
9 months ago
Trade closed: target reached: initial pattern target reached. as well as tg1 for addon 1 and 2.
addon 1 stop to the last swing high - 1242ish. addon 2 stop to breakeven.

tg2 for both addons is the 618 of the CD move so 1224.

stop of tg3 of the initial longbreakout is still at the starting point at 1220, below the consolidation from the first chart. lets hope we stay above there and continue higher after hittin the 618
9 months ago
Comment: oops. 1224 isnt the full 618, but i dint want to go all the way. because we have the old triangle trendline coming in b4 that and a fair bit of horizontal resistance. thats why im goin for 1224
9 months ago
Comment: currently looking for a last addon below this triangle. not that if we break above it confirming the Doublebottom we will most likly see a bigger retracments.
snapshot
9 months ago
Trade closed: target reached: Target 2 for all position hit. i didnt take the addon because we didnt see the breakout till the market close and it was bedtime anyway.

TG3 long is also still active due to good stopplacement and is now set to +breakeven at 1230 below structure. i wanna see the market up from here, if its goin down further ill be out for the moment anyway.
9 months ago
Comment: little bit late on the addon because i just got to the pc. but im looking for a retracementbuy with stops below the lows
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9 months ago
Comment: U can also look at buyin the breakout
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9 months ago
Trade active: addon active for breakout on top. sadly didnt get filled on the bottom due to spread

target setup. All TG3s on for long addons merge with the TG3 of the original breakout, so 1375
TG1 Retest of D(gartley) TG2 Retest of X(gartley)
snapshot
9 months ago
Comment: Nother chance for an addon. since i can significantly improve my stop on the latest addon, once we confirm this flag, i will be also trading this
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9 months ago
Trade closed: stop reached: still waiting for the addon entry. but i got stopped out on your first addon. we did see good followthrough after the breakout, but i am ofc always trading a bigger picture move, so i didnt take profits.

the last posted addon setup is still intact so far.
9 months ago
Comment: Market is really on the Edge right now. if we can make new highs above 1237,5 takin out the last swing, i will be looking to buy (this time with fast profittaking)
if this doesnt happen, then the market will likly break down from here. from there on i will be lookin to sell probably, if the chart looks promising
9 months ago
Comment:
snapshot

if i get filled long i will be takin profits pretty early(doubletoparea) and bring my stops to breakeven. since the market can very well also break down from here. if we take down the highs tho, i will be looking for further longs

i will also set up short orders below my stop(so below the flag) if im gettin filled long.
9 months ago
Trade active: long active. 4156 tg1
stop and short orders at 1234
9 months ago
Trade active: position reversed. small loss on the long, i pulled the stoploss up abit during the spike after the entry. sadly reversed shorty before my tg1. im goin to stay. if we see some followthrough to the downside i will look for addons, but for now i leave gold alone. its always hard to trade at the 618 retracment of a bigger move.
9 months ago
Comment: currently look for an addon if we can break the consoldidation to the downside
snapshot
9 months ago
Comment: but we might continue higher first forming a head&shoulders formation. we will see what happens
9 months ago
Trade closed manually: i closed my short trades a couple of minutes ago after we came down again for minimal profit. i just didnt like the way the market behaved after i went short (mainly the recent spike up) so im happy to go out with a bit of profit.

i just dont see any reason to be short currently. i might rethink about it if we go lower, but for me the question always is while being in a trade "would you want to enter a trade in the direction of your position at this point currently" and if the answer is no, then why am i in the trade. thats why i closed it

for me the current picture is as following. but again. im more on the long side. im probably not trading this short, maybe long, but today seems alot choppier marketstate, so i might not trade at all. so far around full position down today, which i guess is fine, for the attempts i took.
snapshot
9 months ago
Comment: * one full position down.

and also in the picture the lower callout should ofc be "below this line"

why cant i edit those things :(
9 months ago
Comment:
snapshot
looking at a breakout from this orange consolidation on top of a expanding wedge. if we break this, i think chances are good we will complete the gartley and maybe move further up after a bit of a retracement from there
9 months ago
Trade closed: stop reached: out for 1/3 of a full position after trailing the stops below the swings, because i was worried about having not enough power in the market (which showed to be true)

i still wanted to take the trade in anticipation of maybe finally some marketdesicion but didnt happen.
over around full positions in 4 trades today for gold. so i guess i can still be happy with the result and that i didnt lose more.
9 months ago
Comment: around 2 full positions down in 4 trades today for gold*** i maybe should check this bullsht im typing b4 im posting it ;)
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