Krunal.Patel
Short

XAUUSD/GOLD 60 Bearish GARTLEY PATTERN @ 1287

FX:XAUUSD   Gold Spot / U.S. Dollar
Hi guys,

Here is a bearish GARTLEY pattern @ 1287 in which i would have a sell limit in place and stop loss will be placed above the X leg which we use as good resistance in this case. Targets will be at the 38.2% and 61.8% fibonacci levels. IF/WHEN first targets are met, half of the position would be closed for profit and stop loss for the second half of the position will be moved to break-even, ensuring a risk-free trade.

Thank you for your support.

Trade Numbers:

Risk: 10.75 points x 2 = 21.50 points
Reward #1: 11.6 points. R:R = 1:1.1
Reward #2: 18.8 points. R:R = 1:1.75

Plan your trade... Trade your plan.
Trade active: SHORT @ 1287
Comment: TARGET 1 HIT! NICE AND PAIN-FREE. PROFIT MADE: 11.6 POINTS. MOVE STOP LOSS TO BREAK-EVEN, LET THE TRADE PLAY OUT.
Trade closed: target reached: FORGOT TO MENTION THAT TARGET 2 HIT A WHILE BACK! TOTAL PROFIT MADE ON THIS TRADE = +30.4 POINTS.

Comments

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