AUDUSD has been on a downtrend and there is a bearish Gartley, a trend continuation pattern for this currency pair. Price entry is guided by a red candle engulfing the bodies of the 2 candlesticks before it. 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.
Trade Setup: Bearish Gartley
Price Entry 0.75485
SL 0.75700 | SL pips 21.5
TP1 0.75270 | TP1 pips 21.5
TP2 0.75062 | TP2 pips 42.3
TP3 0.74726 | TP3 pips 75.9
RRR1 1.00 | RRR2 1.97 | RRR3 3.53
Status/Remarks: TP1, TP2, & TP3 hit! :)
Trade Setup: Bearish Gartley
Price Entry 0.75485
SL 0.75700 | SL pips 21.5
TP1 0.75270 | TP1 pips 21.5
TP2 0.75062 | TP2 pips 42.3
TP3 0.74726 | TP3 pips 75.9
RRR1 1.00 | RRR2 1.97 | RRR3 3.53
Status/Remarks: TP1, TP2, & TP3 hit! :)