GBP/AUD: LONG NOW but SHORT LATER...??
A previous idea now has me LONG on this pair (still possible to get in NOW!! NO GUARANTEES GUYS!!).
IF it works out then we might get a nice pattern forming at a higher level to enter short for a retracement.
It is still very early I know, but if the Gartley does it's job then it should bring us there so I had to share it anyway... (confidence guys!! but do notice the "IF"...!)
We can onlly wait and see wat happens next...
I denoted the Gartley profit levels (2 of 3) from my previous idea on this chart as reference. You might want to consider taking a nice percentage of profit (if not all) on the Gartley trade when PA reaches the bat completion level, that way you realize profits before a possible retracement, possibly freeing up equity to enter the bat trade!
WARNING: when you enter short at the possible bat completion level make sure you adjust your SL with the Gartley TP2 (and the higher trendline) in mind! Pure bat traders might take a tighter SL, but I don't like to do that...
I will take 70-80% at TP1 based on the bat and only 20-30% on TP2 based on my bat trading analysis (50% @ TP1 + 50% @ TP2 is most likely NOT the highest yielding strategy!).
This is supported by the fact (or feeling) that the higher timeframe Gartley should act stronger than the lower timeframe Bat (no certainties here, it just sounds logical to me...)
AS ALWAYS: NO GUARANTEES WHATSOEVER, JUST MY PERSONAL VIEWS AND BEST GUESSES HERE. DON'T TRADE BASED ON ANY OF MY IDEA'S IF YOU CAN'T BACK IP UP BY YOUR OWN ANALYSIS OR THOUGHTS!!
AND IF YOU COME TO ANOTHER CONCLUSION THEN PLEASE DO ME A FAVOUR AND LET ME KNOW WHAT YOU THINK, ESPECIALLY WHEN IT OPPOSES MY VIEWS!! HOW ELSE CAN I LEARN AND IMPROVE... :-)
Gartley trade idea here:
IF it works out then we might get a nice pattern forming at a higher level to enter short for a retracement.
It is still very early I know, but if the Gartley does it's job then it should bring us there so I had to share it anyway... (confidence guys!! but do notice the "IF"...!)
We can onlly wait and see wat happens next...
I denoted the Gartley profit levels (2 of 3) from my previous idea on this chart as reference. You might want to consider taking a nice percentage of profit (if not all) on the Gartley trade when PA reaches the bat completion level, that way you realize profits before a possible retracement, possibly freeing up equity to enter the bat trade!
WARNING: when you enter short at the possible bat completion level make sure you adjust your SL with the Gartley TP2 (and the higher trendline) in mind! Pure bat traders might take a tighter SL, but I don't like to do that...
I will take 70-80% at TP1 based on the bat and only 20-30% on TP2 based on my bat trading analysis (50% @ TP1 + 50% @ TP2 is most likely NOT the highest yielding strategy!).
This is supported by the fact (or feeling) that the higher timeframe Gartley should act stronger than the lower timeframe Bat (no certainties here, it just sounds logical to me...)
AS ALWAYS: NO GUARANTEES WHATSOEVER, JUST MY PERSONAL VIEWS AND BEST GUESSES HERE. DON'T TRADE BASED ON ANY OF MY IDEA'S IF YOU CAN'T BACK IP UP BY YOUR OWN ANALYSIS OR THOUGHTS!!
AND IF YOU COME TO ANOTHER CONCLUSION THEN PLEASE DO ME A FAVOUR AND LET ME KNOW WHAT YOU THINK, ESPECIALLY WHEN IT OPPOSES MY VIEWS!! HOW ELSE CAN I LEARN AND IMPROVE... :-)
Gartley trade idea here:
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