The second Gartley that appears in the S&P 500 these days...!
I just saw it so i didn't took the trade... But i thought i should mention it to be aware maybe for a third one! Lets see how this one is going to work..! :)
The first did very well..!
I manage to get in to the trade a little bit above the entry point 78.6% of XC
Thats why i set my first target a little bit above the 38.2% of CD
and the second at 61.8% of XC
One problem with this trade though.. C point didnt quit reach 127% ox XA but its pretty close... I got in with half o f my usual position ...
Stops above X and XA 113 extension
Because its in the daily time frame careful if you are going to short it and search for bearish evidence at the lower time frames
When the first target get hit put SL at break even and wait for the second target
If we get a higher high close candlestick we are talking about a probable trend continuation here.. but i would rather sit and wait patiently the pattern completion at D point
Conclusion... i wouldn't get too excited with the bullish trend here.. Also check the RSI bearish divergence...
I would also have in ...
An excellent confluence of the two patterns that occur simultaneously in GBPJPY Short with two trades one for each pattern and stops above X of the Cypher. Targets you decide whats best for this one...