Gartley on USDCAD?

25. Apr. 2018My first attempt to harmonics pattern trading.

USDCAD 0.05% seems to complete the Gartley pattern , heading now to C-D formation.

Sell on break of counter-trendline, target at around 1.243 area.

Please let me know your feedback so I can learn from them.

Thanks.

27. Apr. 2018

Kommentar

Market is not yet breaking our counter-trendline but it's losing steam already due to a divergence.

28. Apr. 2018

Kommentar

Our alarm was triggered, breaking the counter-trendline but I was hesistant to place a trade because it was Friday and market is about to close.

Placed another counter-trendline hoping to have it break by next week, but the market broke it at the last candle.

Should we place a trade on a "fakeout" Monday?

30. Apr. 2018

Kommentar

Market pull-back well to our previous counter-trendline that it broke last Friday on its last 4-hour candle.

We are looking to enter a trade when the market will break the previous support.

2. Mai 2018

Kommentar

We are getting a “fakeout” or “bull trap” yesterday. Good thing we aren't on the trade yet as it would hit our stop loss.

Waiting for the new entry area to break.