timmynorin

AUDCAD (15min) Short setup, could gartley help batman?

FX:AUDCAD   Australian Dollar/Canadian Dollar
Recently, as you can see on my recent published charts, mr batman has proved himself incapable of assisting and been completely beaten down.

In this setup we have a bigger gartley-pattern which could add some backup to the weak (yes.) bat, together with falling trendline and structure looking back - and the double top that these two combined will form when the bat reaches completion.

I'm looking for two targets.
Target 1 at retest of structure below, and target 2 for continuing down, perhaps retesting trend line , and also 0.618 fib below.

My stop loss is not conventional for a gartley , as my stop loss goes below X.

But, if price action breaks trend line and continues up, then most of my reasons for entering this trade has been invalidated and there is no reason being in it.


Feb 15
Trade closed: target reached: BOOM.
Feb 15
Comment: We barely got shot down, brushing against our stop loss. Forming a double top before plummeting down, yet again towards 1.00000.

We do find an opportunity to get long (see green box) with 2618 as already drawn. Altho, AUDCAD have been extremely volatile lately with either indecision or extreme decision. I will therefore await confirmation before entering.

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