If price action reaches the D point and completes this pattern, I'll be looking for a double top to enter this short trade, plus RSI overbought conditions.
Stops go an ATR above the double top, and I'm shooting for target 1 only at the 38.2% AD retracement.
(On this chart I marked the R/R as a 1:1 because we don't yet know the ATR.)
I could also enter this aggressively but then the risk/reward would be inverse at the completion point with stops above X at the 113% Fib extension - and an inverse R/R is something I can't take on a Gartley.
60M chart
Target 1 at the 38.6% retracement of AD.
Stops at an ATR above the double top.
(These are my learning/trading notes. Feel free to disagree, but please provide constructive feedback so I can improve.)
Stops go an ATR above the double top, and I'm shooting for target 1 only at the 38.2% AD retracement.
(On this chart I marked the R/R as a 1:1 because we don't yet know the ATR.)
I could also enter this aggressively but then the risk/reward would be inverse at the completion point with stops above X at the 113% Fib extension - and an inverse R/R is something I can't take on a Gartley.
60M chart
Target 1 at the 38.6% retracement of AD.
Stops at an ATR above the double top.
(These are my learning/trading notes. Feel free to disagree, but please provide constructive feedback so I can improve.)
Trade fermée: cible de profit atteinte
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.