Quote:
Originally Posted by Sweet Pip
Yes it sounds like a plan anyways..so thanks for that...and time will tell.
Hard part is sitting here seeing these patterns when I can't trade...like now... then seeing nothing when I can...arrgh!
Seems to be a gartley pattern. That website I listed also has an online charting program with an ABCD drawing tool, so I just draw the ABC portion and it will calculate where D should be...handy...lol
Although the D leg didn't quite reach the recommended 127.68 projection, it did reach the 61.8% fib of XA at 127.62...close enough? I drew in the other lines to see the shape better and it looks good..lol... so if one took a chance and shorted there at 127.62, it did drop.
If one put a target in at C, it didn't quite make either, but it did make it to 127.31....a 31 pip less spread profit which is nice to see. And considering a stop at 127.68 for 8 pips was a nice risk/reward ratio indeed.
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126.846 place an entry a few pips above it or right on that target for a Buy its 100% of an abcd Gartley I will post pic ASAP. It should be comming up soon
Edit:
Bellow is the Image of an upcoming Gartley Pattern (.618) Fib level
Keep an eye out for this trade, it will most likely occur around 12-2am est if the market consolidates from now on as scheduled
Edit:
Price projection = 127.482 (50% retracement) which would gain me 63.3 pips.
My limit is set at 30 pips for reasons mentioned previously on the thread
BTW Sweet, did you trade that pattern you drew? It looked good.