XAUUSD/GOLD 60 Bearish GARTLEY PATTERN @ 1287
Hi guys,
Here is a bearish GARTLEY pattern @ 1287 in which i would have a sell limit in place and stop loss will be placed above the X leg which we use as good resistance in this case. Targets will be at the 38.2% and 61.8% fibonacci levels. IF/WHEN first targets are met, half of the position would be closed for profit and stop loss for the second half of the position will be moved to break-even, ensuring a risk-free trade.
Thank you for your support.
Trade Numbers:
Risk: 10.75 points x 2 = 21.50 points
Reward #1: 11.6 points. R:R = 1:1.1
Reward #2: 18.8 points. R:R = 1:1.75
Plan your trade... Trade your plan.
Here is a bearish GARTLEY pattern @ 1287 in which i would have a sell limit in place and stop loss will be placed above the X leg which we use as good resistance in this case. Targets will be at the 38.2% and 61.8% fibonacci levels. IF/WHEN first targets are met, half of the position would be closed for profit and stop loss for the second half of the position will be moved to break-even, ensuring a risk-free trade.
Thank you for your support.
Trade Numbers:
Risk: 10.75 points x 2 = 21.50 points
Reward #1: 11.6 points. R:R = 1:1.1
Reward #2: 18.8 points. R:R = 1:1.75
Plan your trade... Trade your plan.
Trade active:
SHORT @ 1287
Comment:
TARGET 1 HIT! NICE AND PAIN-FREE. PROFIT MADE: 11.6 POINTS. MOVE STOP LOSS TO BREAK-EVEN, LET THE TRADE PLAY OUT.
Trade closed: target reached:
FORGOT TO MENTION THAT TARGET 2 HIT A WHILE BACK! TOTAL PROFIT MADE ON THIS TRADE = +30.4 POINTS.
