20Feb/120
audchf forming bull gartley harmonic pattern
Audchf is forming a bull gartley harmonic pattern. It is oversold on 1H chart but not on 4H. Going to wait for an entry at the 88.6% retrace of XA of harmonic pattern, which may coincide with OS RSI on 4H and diverging RSI on 1H.
This pattern has nice 61.8% fib retraces for B and C. Better risk reward potential if the harmonic pattern completes in or around the 88.6% retrace of CD on favourable RSI readings.
T1 is the 38.2% retrace of CD of gartley harmonic pattern.
audchf bull gartley harmonic pattern
9Jan/120
AUDSGD HITS T1, STOP ON 2nd HALF TO BREAKEVEN
A pull back off the 94.1 AB=CD point did not achieve T1, after some divergence and a breach of X price dropped into the first target. Stop to break even on 2nd half position.
5Jan/120
GBPUSD CLOSED FOR 177 PIPS PROFIT ON 2nd HALF POSITION
I elected to close my 2nd half position on GBPUSD for 177 pips profit, as it challenged the 61.8 retrace of AD, approached oversold on 4H and was oversold on lower TFs. It also ran into the completion of a potential bull bat, bouncing off the X for this last potential pattern. So, all flat now on this pair now.
