Hi guys, It is quiet again in this thread. I hope it will be ok to just post one pairs of analysis and ask your opinions.
I got a nice bearish gartley yesterday but missed the entry as I was busy to analysis of the higher TF of the bullish gartley mentioned by JPYJPY. The weekly chart clearly suggested a bullish gartley. Interestingly the development in 1H chart is forming another bullish gartley, which co-converged with the weekly gartley (the blue part is the end of the weekly gartley). The question I would like to ask is how I can enter this trade with low risk. The 1H gartley suggest it there now but the weekly gartley suggested it might be another 20-30 pips before it matures. Even monitor the lower chart by watch the candle development is not that easy (I missed an entry yesterday in the NZD/USD daily bearish gartley yesterday because there were 6 pips short of the entry point, even there was a shooting star).
yes. from weekly gartley, the D point was from 1.28665 to 1.29610. It is a large range for intraday trade. Maybe have to wait till the lowest price, then check the 4H/1H/30m entry bar patterns. not easy to use weekly chart for short term trading.
Hello, i am a beginner but draw and find the patterns are no longer my problem.
Now my problem is where to put my entries.I had a few trades this week, win or loss does not make sense now,i do not feel safe when I make an entry do not know if the price goes up or down.
I make an entry, when it appears a double bottom or top levels around my fibs.
[B]My question is:[/B]What do you use to determine the movement of the market, technical analysis, fundamental, sentimental, reading of candles, indicator, a book?
[B]Newbabyfxx:[/B]Congratulations on your dedication and analyze patterns in so little time.
[B]TMoneyBags: [/B]i want this teach, will have some specific time?
Hi Braindamage, I would like to share my story of today’s entries as a beginner. Today my trades have four scenarios of entry: 1 pending limit order USD/CAD 30m. Although the momentum of the price move is very strong, I put an pending order based on the bearish gartley at 1.02078 (38.2 extreme XA). The entry was successful.
2 waiting for price coming back and entering market price EUR/USD 1H bullish gartley. Again it was a very strong momentum move. As the daily S2 was below the D, I waited for the price retracing back to D then put an market order. It was up to 28.9 pips before it went back. I taken an profit of 10 pips after price went down to 23.6 AD plus the wick.
3 waiting for entry bar close above D (bullish gartley) and entering market price GBP/USD 1H. Following TMB advice, for this one I waited for bar crossing the D came back and close above D then entered by market price. It was failed and I lost 28.5 pips (I set the SL to the next fl and did not stop earlier because of the entry bar close up the D so I hoped the price would be up again). (after wards, I did a revenge entry, it is still going on, but looks I am loosing it.)
4 waited for entry bar close below D (bearish gartley) but hesitated, lost chance of entry AUD/USD 30m. I waited the bar close below the D but then hesitated, worrying that the price might go up again, so lost the chance of a nice profit.
So in summary it looks like that I have faced all entry situations.:10: I feel it maybe better just have a pending order and let the market decides the entry. With pending entry, combinng with TMB’s manually close strategy if the entry bar closes negatively would be a choice. This way it wont lost chance and will close some bad entry because of strong momentum, though it is still nothing is gurrantted.:eek:
Just keep posting your trades and thoughts…I think it helps alot of people overall. (The only thing is that it may be hard for newbies to keep up if they are trying to learn through the thread…)
For newbies to this thread, just read the first 200 pages of this thread as TMB mentioned…and then follow new posts…
Thanks Stupip! I am a beginner as well. I really hope this thread will grow and we can learn from each other and get advices from the experienced guys.
Here is an ongoing trade of NZD/USD based on the weekly/daily bearish gartley. It was a pending order set two days ago. On Tuesday it was nearly touched it but just missed 6 pips. It was finally triggered 0.79664 (a little bit of slippage from the setting of 0.79675) last night about 11 pm (gmt). At the moment it is +15 pips. I have moved the SL to b/e, but really hope to see take profit at 23%AD (0.78711). A worrying of this setting is that the entry bar is not close positive from D. Lets see what’s the outcome. Maybe I shouldnt move the SL but I dont want to lose, which is a dilemma, especially if expecting a large profit.
When I target a bigger TP from the high TF, I take a smaller position, so that I can increase my SL.
For example, if I feel a 10 pip SL is good, then I’ll take a position with most of my account…but if I feel like a bigger SL (like 30 pips) is necessary as in the higher TF, then I take position with a smaller portion of my account…However, both 10 pip and 30 pip SL is equal to about 2-5% of my account that is at risk if I lose…
That will help you not worry about losing or getting stopped out…
Thanks! I have not thought of this trategy, even I saw it several times. :26:Your post is a good remind, just like a strike to me so I will definitely remember this strategy from now on.
Hi guys, what about this setting: AUD/USD 4H gartley with 1H gartley nearly co-convergence. I pending ordered both entry.
The 4H gartley converge at 161.8% CD (1.03532)/88.6 extremeXD (1.3586) and co-converge 161.8 nearby XD (1.03512). Pending order 1.03586), SL 10.3862 (100 extreme XA), TP 1.03217 (23.6% AD). The 1H gartley converges at 127.2%CD (1.03548)/100XD (1.3509). Pending order 1.03509, SL 1.03587 (1 pip above 4 H gartley entry D), with trail 10 pips, TP 20 pips (in mind that the 4H gartley is more desirable).
No one is there? Sorry for being annoying again. But there is an interesting picture I would like to share.
There are three gartleys in the current USD/CHF chart. The 1D adn 4H bearish gartleys are forming, while the 1H bullish bartley matured one hour ago (and I missed, typically :13:). Considering the two bearish gartleys, Can we assume that the bullish gartley would be strong? (Also a bearish weekley gartley is forming, the pink area up left, but that is far to showing in this chart and probably too far away to affect the current trend).
