Look what we have here. Maybe it was tough to find it. We still have a valid strong weekly trendline and just top of it we have the perfect gartley pattern with the perfect ratios. Now its the time to think whether you would hit long or would say nah, i will be waiting for a short. I am not listening to anyone, I am going long again. I am 50/50 again. I may win or loose. But according what the market is saying. Obviously its whispering to my ears, Go long peeps.
1) How big of a position do I want to trade? How much capital am I going to risk? Am I limiting my risk to 1% or 2% of my trading capital? 2) What is my risk of ruin based on my capital at risk? 3) Why am I entering the trade here? What is the trigger to trade? 4) How will I exit with a profit? A price target or trailing stop? 5) At what price will I know that I was wrong? Where is my stop loss based on the position size? 6) Will I be able to admit I was wrong and exit the trade if my stop is hit, or will my ego make me hold and hope? 7) Is the risk small enough that I can emotionally handle the loss without blaming the market? 8) Can I really risk this money or do I need it for upcoming bills? Trade with risk capital not living expenses. 9) Am I committed to staying disciplined and following my trading plan on the trade?
RISKS ASSOCIATED WITH FOREX TRADING Trading foreign currencies can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose.
Its hard to tell, You have drawn the zones perfectly. EUR is acting a bit weird. If it closes below it could possible mean a good bearish drop or lets say it could be a false breakout too.
dhananjay.d.joshi
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Okay, thanks for your feedback.
kopparam
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kopparam
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abrar.ahmed1408
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Lot of people disagreeing but the thing is that of us are aware of the ratios for the completion of Gartley, Mr Sazid probably selected the potential entry levels because of the other confluences provided by the channel and SD zone. Lets hope for the best.
Trader-Mick
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Thank you abrar for the support!. I trade what I see, The crowd may disagree with me, in other words they are disagreeing with the nature laws, the calculations. Well, we know that none works all the time, but we try the best to confluences and try to increase the winning rate.
CryptoCurrency_Inc.
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You are right, I think we are in a bear trap. Soon, we will see price of EUR/USD go pass 1.17
Trader-Mick
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Its hard to tell, the market showing a lot of momentum here, The candles are wide ranged and we got a bull setup here, lets say its 50/50.
arco_ickimoku
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Looks a bit risky IMO. In a perfect Gartley AB=CD (Gartley P222) - which the price action has not reached yet. That would be reached around 1.0867.
Do you think down side possibility is more ?