Germany 30מעודכן Countertrend Gartley 222 (AB=CD) in DAX, entry at 78%
Something I was observing for, but didn't enter.
One way to trade Gartleys is to enter directly at the 78% retracement lever with a stop behind the previous high/low. (Point X) There was no good signal bar at 30 min, 1 hour nor the 2 hour chart so this was a viable way. In this case, one-to-one was already reached.
Larry Pesavento suggests for targets the 38% and the e 68% retracements of the AD leg.
In this case, as it's a countertrend trade maybe this is the better option, target 1 was already reached in this chart.
With the trend, you can even aim for the 161% extension of the AD leg which gives a huge risk-to-reward opportunity. I prefer these.
One way to trade Gartleys is to enter directly at the 78% retracement lever with a stop behind the previous high/low. (Point X) There was no good signal bar at 30 min, 1 hour nor the 2 hour chart so this was a viable way. In this case, one-to-one was already reached.
Larry Pesavento suggests for targets the 38% and the e 68% retracements of the AD leg.
In this case, as it's a countertrend trade maybe this is the better option, target 1 was already reached in this chart.
With the trend, you can even aim for the 161% extension of the AD leg which gives a huge risk-to-reward opportunity. I prefer these.
הערה
'Larry Pesavento suggests for targets the 38% and the e 68% retracements of the AD leg.' --> Both of these targets were reached at this point
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.