2018May24 EURGBP M15 Bullish Gartley
There is a bullish Gartley for EURGBP. Price recently went as low as 0.87478 (85.2 Fibonacci retracement of leg XA) with the news release, Retail Sales m/m (GBP). As I expect price to go up, I am placing an aggressive buy limit at 0.87516 which is the 78.6 Fibonacci retracement of leg XA. However, it is ideal to wait for confirmation first. Take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg AD and point A. The stop loss has the same number of pips as TP1 by default. I will manually cancel this pending order if price goes to TP1 before getting triggered.
Trade Setup: Bullish Gartley
Price Entry 0.87516
SL 0.87343 | SL pips 17.3
TP1 0.87689 | TP1 pips 17.3
TP2 0.87795 | TP2 pips 27.9
TP3 0.87968 | TP3 pips 45.2
RRR1 1.00 | RRR2 1.61 | RRR3 2.61
Trade Setup: Bullish Gartley
Price Entry 0.87516
SL 0.87343 | SL pips 17.3
TP1 0.87689 | TP1 pips 17.3
TP2 0.87795 | TP2 pips 27.9
TP3 0.87968 | TP3 pips 45.2
RRR1 1.00 | RRR2 1.61 | RRR3 2.61
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.