Hey traders, welcome to a new week and a new month of trading!
Here on the EURAUD we a bracketed order situation where we have two potential advanced pattern formations setting up in a both a bullish & bearish Gartley formation.
With many of these markets still looking to be in consolidation, these are the times when we want to stay alert for pattern formations.
beautiful and motivational trade! knocked on the door of my SL by 5 pips and ended up successful at TP1 an hour or so later :)
Akil_Stokes
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Gosh I hate when that happens!!
PHL
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Sorry, I meant I ended up in profit but was almost stopped out ;) Luv it!
Akil_Stokes
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Ahh in that case even better. "RING THE REGISTER!"
QuileHills
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It broke the "X" point of the bullish Gartley but not the 1.618 expansion of the A-B leg. Is it still a valid Gartley? Not trading it, just slowly studying Gartley and other patterns to incorporate into my trend/channel strategy.
Akil_Stokes
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Advanced pattern formations are invalid once the "X" leg is violated. Some will need a break and close beyond
antonyde
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Hello Akil,do you normally take that trade even if it's 3 pips away from the limit order? Thanks
Akil_Stokes
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No, i take the trade only when my limit order is hit
antonyde
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Ok! We see that 1.27 extension in on 1.4573 In what price do you set your limit order let's say for that situation? Maybe 1.5 pip before?