Wanted to share my first trade in August (that ended being a loss) for educational purposes.
On the H1, price was trending to the downside, and I had my eyes on the potential bear Gartley as a reason for entry for a trend continuation trade, with T1 at the retest of NSL (the A leg of the Gartley).
However, a couple candles after being filled and in the trade, price closed above the last OR, violating the down trend. Because of that, I had no reason to expect a full move down again, and then switched my targets to conventional ones instead (38.2 and 61.8 Fib retracement).
I just got stopped out a few minutes ago, but it was a good example on a good trade where I have been paying good attention to price action, and taking the needed action as described in my trading plan!
Let's see what the markets will give us this week !
On the H1, price was trending to the downside, and I had my eyes on the potential bear Gartley as a reason for entry for a trend continuation trade, with T1 at the retest of NSL (the A leg of the Gartley).
However, a couple candles after being filled and in the trade, price closed above the last OR, violating the down trend. Because of that, I had no reason to expect a full move down again, and then switched my targets to conventional ones instead (38.2 and 61.8 Fib retracement).
I just got stopped out a few minutes ago, but it was a good example on a good trade where I have been paying good attention to price action, and taking the needed action as described in my trading plan!
Let's see what the markets will give us this week !