that Eur/Chf turned at precisely D and is now +30
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that Eur/Chf turned at precisely D and is now +30
partially closed Eur/Chf +50
What is the outlook for the EURUSD?
Theres a fairly ideal bearish gartley on the USD/HKD daily at the moment with AB=CD and divergence on the RSI and momentum indicators. I wasnt happy with the pic I did so wont post it but it sticks out like dogs balls.
Kinda gutted that I spotted the AUD/JPY larger gartley that finished with the NFP last week and then reversed for 300 pips this week , but never traded it.
pic for USD/HKD
http://img98.imageshack.us/img98/816...2008rn6.th.jpg
and a head and shoulders formation on this USD/HKD could add grist to the gartley mill
USD/HKD is being stubborn at these levels however it was a trade over a daily time frame I will sell again at 7.8114 stop loss is above 7.83
Aud/Jpy was compliant on a shorter time frame last night.
I slept through this entire trade of +100
USD/HKD limit was hit the other day at 7.8114, a reasonable sized position (for me) is now in place and as of now +43 with in my mind all indications showing a turn at the 78% retracment level. target 7.77 stop 7.84 this may be brought down over time eg trailing.
took some profit on USD/HKD at 7.7950 +164
it took a few days to get going but did fall well recently
Well done on your trade, Peat!
I have started looking into Gartley Butterflys. Do you have any recommended sources of info for background reading? This thread has many good examples, but I am looking for something that starts with the basics...