Weak Gartley completion at lower trendline

9 lip 2017

So I need to start by saying, this bullish Gartley Advanced Pattern is not truly valid. A proper Gartley of any flavor requires a precise .618 retracement of the XA leg, and as you can see, this one missed it's mark by .03. Decide for yourself if you think that's a deal breaker. The 'D' completion point of the pattern sits right on top of the lower trend line. Also be aware that the trend lines define an ascending wedge on higher time frames, so, while I can see a pull back to find resistance- ultimately I expect we will fall out of the wedge as it is a bearish pattern. Be that as it may, our lower time frame trade will have us short to the pattern completion, then long off the bullish gartley. Best of luck.

10 lip 2017

Zlecenie aktywne

This trade is now active.

10 lip 2017

Zlecenie aktywne

11 lip 2017

Transakcja zamknięta: osiągnięto wyznaczony cel

So officially the short trade down to 'D' completion was a great success. The long off the bullish reversal however was stopped out by a panic spike down... if you were trading with stops.