"Deep Gartley Setup in Gold" by trader DavoodWadi — published December 09, 2014

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Gold Spot / U.S. Dollar (FX:XAUUSD)

FX:XAUUSD Gold Spot / U.S. Dollar

Gartley

gartleypattern

Hello guys,

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

Happy trading.

An update to what is happening, just in case anyone following this:

DavoodWadi

What makes you think that?

IvanLabrie

Here's why I think so Ivan

DavoodWadi

I see, There's significant support at 1204 if it were to fall, but I don't see it as very likely.

hi Davood khan

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?

yongjui.foo

0.1 lot - Bear in mind that 1240 is a tight stop loss, I suggest you to consider above 1249. Hamed

HamedAghajani

yup, i set my SL to 1250. i just wonder how to calculate the trading size. thx for advice

yongjui.foo

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.

hi Mr Wadi

az rahnamayi dishabet tashokor mikonam,mofid bod.

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