Buy this EURUSD bullish Gartley at 1.0753. S/L 30 pips lower. First P/T 40 pips higher. This is more riskier pattern. Note the long bars coming to a buy point. Risk no more then 30 pips.
Komen
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Move your S/L to break even now.
Komen
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Stopped out. Missed P/T by 10 points :-).
Komen
lcyilin
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It was a good trade, well managed. What do you look for in moving the S/L to break even?
Fibtrader786
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Normally I let it run till either a S/L or first P/T is hit but today since this was a riskier set up I have chosen to protect myself a bit sooner.
lcyilin
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Hi, great to see you are back! =)
Would you mind explaining on how you set your s/l and p/t? And why is this considered to be riskier? Thank you!
Fibtrader786
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Hi,
If you look at the long bars coming in to your trade it means that there is a thrust and lot of selling going on. It means that the selling might continue in the direction of the long bars and therefore the trade is a bit riskier.
S/L and P/T are based on harmonic numbers. For EURUSD the harmonic number is 40 pips now.
lcyilin
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@Fibtrader786, Okay, now then I remember reading that in the book! Great to see how it is considered in the trade. Noted that, thank you!