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peterfx
Oct 25, 2016 10:16 AM

AUDNZD Bearish Garley 

Australian Dollar/New Zealand DollarFXCM

Description

Bearish Gartley completion at 1.272 ext of AB leg chosen as closer to X (78.6 retrace of XA was too far from this confluence).

HTF - 38.2 retrace of larger move

Previous minor and major structure support / resistance

Identified on 240 but on 60 minute there's bearish divergence on RSI and went oversold on previous (lower) high.

Stop loss at 1.13 of XA

TP1 38.2 of AD
TP2 61.8 of AD

Trade closed: target reached

Target 1 reached. Stopped out at breakeven for second position.
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