Telson
Short

AUDUSD - Possible Gartley completion and false break-out

FX:AUDUSD   Australian Dollar / U.S. Dollar
A Gartley pattern can be completed at the 0.75433 level so, we use this as an entry point and place TP at the 38.2% and 61.8% of the AD leg at 0.74537 and 0.73984 respectively. SL around the 0.75900 region or higher. Adjust TP and SL to your liking and/or trade attitude, the above are just suggestions.

This is in line with a previous idea on the formation and break-out of a rising wedge . (see links below)
This long move is considered a false break-out.

All feedback is appreciated.
Comment: Both targets met due to the wedge break-out.

The formation of the Gartley pattern was (unfortunately) never completed.
Trade closed: target reached: Both targets met due to the wedge break-out.

Check also this idea for a better picture.

Doesn't matter about the pattern not being completed, get your pips and run! Well done on meeting your targets Telson!
Reply
Telson anax75
@anax75, I was long off the rising wedge anyways, I just missed a higher sell order in case the pattern formed...

well, we can't have all :)

thank you for the feedback
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out