Possible start to oils rise? (Triangle break into bullish Gart.)
There are a number of ways this trade could play out:
1. Triangle and long-term resistance breaks at touch point 7 of the symmetrical triangle. Would place an initial profit target at $34.80 and then at $38, and if this target was reached I would consider holding this position for a prolonged period of time.
2. Triangle breaks at touch point 6 to move into a Gartely formation. Short at the break, buy at $28.50. Profit target for the Gartely would be at the long-term resistance line. For any signicant move above this long-term resistance, see trade 1.
3. Triangle breaks at point 6, Gartely gets stopped out (this won't matter because the stop loss for the Gartely would be equal to the profit taken from the triangle breaking at point 6, so there will be no net loss of money).
4. Something completely different!
I am looking forward to seeing how this plays out, could potentially be a lot of profit to take from these trades.
1. Triangle and long-term resistance breaks at touch point 7 of the symmetrical triangle. Would place an initial profit target at $34.80 and then at $38, and if this target was reached I would consider holding this position for a prolonged period of time.
2. Triangle breaks at touch point 6 to move into a Gartely formation. Short at the break, buy at $28.50. Profit target for the Gartely would be at the long-term resistance line. For any signicant move above this long-term resistance, see trade 1.
3. Triangle breaks at point 6, Gartely gets stopped out (this won't matter because the stop loss for the Gartely would be equal to the profit taken from the triangle breaking at point 6, so there will be no net loss of money).
4. Something completely different!
I am looking forward to seeing how this plays out, could potentially be a lot of profit to take from these trades.
评论:
Market may well have broken below the triangle.
评论:
Close below the support line confirms the break, I now expect and hope for a move down into the Gartely pattern.
交易开始:
Placed a short with a price target of $28.60pb
交易结束：到达目标:
Short target reached
交易开始:
Gartely trade placed
评论:
Gartely SL placed at $27
交易结束：到达止损