Potential reversal gartley on 5m at 4H demand for tonight or tomorrow...
if entry from M1 is this super RR trade. My SL is 5 pips here, and potential is huge. Calculate RR for yourself.
The little bit that I left in was taken out near BE unfortunately but if anyone has still got some in it's worth looking at the daily - looks good to hold and trail a stop. Nice level and and it's hit a long running trendline. Maybe okay up to 1.5590 before we see some heavy volume selling.
USDCAD. Similar setup as above but on M5. If it forms as expected, has very good potential for a +4 to 5Rs at least
GBPCHF M15. Waitng for bullish crown. Hope it obliges...
Just some observations top down on cable and on the basis of these charts I am looking for long setups...hope it helps someone.
Gartley completing in the highs and high volume area
Price action was far too strong on the run up to the completion point. I wouldn't have touched this even with Kor's magic mouse button. WOuld have needed to see at least one bounce on the run up to the 78.6
Last edited by Carl; 12-20-2011 at 01:27 PM.
If anyone did leave a bit in then now is a good time to cover and a go do some more xmas shopping....
Originally Posted by Carl
Long from 80 after news if no reaction. Now Long - 1st target 1.5748 2nd target 1.5820 stop at 1.5660
Last edited by Carl; 12-21-2011 at 02:15 PM.
poss short at 99.90 on WTI - one2one on h4 going into a real nice supply area - Will be watching for further weakness as we get there