DavoodWadi
Short

Deep Gartley Setup in Gold

FX:XAUUSD   Gold/U.S. Dollar
215 20 3
Hello guys,

A deep Gartley Pattern is identified in the chart.
The ratio confluences are shown.

Happy trading.
I had a similar pattern on my chart. Good spot
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DavoodWadi HamedAghajani
2 years ago
You too Hamed
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HamedAghajani PRO DavoodWadi
2 years ago
I am usually hesitant with trading the completion of Gartley, where completed by strong relative candlesticks. unless there is a confluence of AB=CD or CD=1.272AB.
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DavoodWadi HamedAghajani
2 years ago
The last Hourly candle had a huge wick. I used that as the confirmation for entry.
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HamedAghajani PRO DavoodWadi
2 years ago
I see that. Added to that it has a confluence with falling trend line and a support.
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yeru DavoodWadi
2 years ago
I would go with your pattern - but not in the next coming days / early next week. Because there is to much noise now (indexes getting on a correction session, oil price issue, Greece again, USD was too strong in my opinion) with a mix of fear in this December 2014 session - and also year end is coming, booking profit.
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Ansari
2 years ago
hi Mr Wadi
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az rahnamayi dishabet tashokor mikonam,mofid bod.
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DavoodWadi Ansari
2 years ago
Hi Aboozar,

You did a great job pointing out those patterns for EURUSD and XAUUSD.
I would like to see more trendlines in higher and lower time frames on your gold chart to get more convergence Aboozar.
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Ansari DavoodWadi
2 years ago
hi Mr Wadi
thank's
long term chart
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short term
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my target is 1254-1261
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DavoodWadi Ansari
2 years ago
Great charts Aboozar.
Your target is in match with the guidelines of the corrections, which is the 4th wave of the lesser degree
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Ansari DavoodWadi
2 years ago
EURUSD chart
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montly , long term
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yongjui.foo
2 years ago
hi, may i have a question. If i short gold at $1230 and my stop loss set at $1240 and i only can risk $100 per trade, what size should i trade?
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HamedAghajani PRO yongjui.foo
2 years ago
0.1 lot - Bear in mind that 1240 is a tight stop loss, I suggest you to consider above 1249. Hamed
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yongjui.foo HamedAghajani
2 years ago
yup, i set my SL to 1250. i just wonder how to calculate the trading size. thx for advice
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DavoodWadi yongjui.foo
2 years ago
I use two types of stops for trading Harmonic patterns.
The more conservative way is to put your stop above the previous high (which is the X point).
The more aggressive way is to wait for a rejection in the PRZ and put your stop above the turning point. In this case I reenter if I get stopped out and a new rejection from the PRZ occurs.
+2 Reply
Ansari
2 years ago
hi Davood khan
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DavoodWadi
2 years ago
An update to what is happening, just in case anyone following this:
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IvanLabrie PRO DavoodWadi
2 years ago
What makes you think that?
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DavoodWadi IvanLabrie
2 years ago
Here's why I think so Ivan
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IvanLabrie PRO DavoodWadi
2 years ago
I see, There's significant support at 1204 if it were to fall, but I don't see it as very likely.
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