01 Nov 10 - Bearish Gartley Pattern on EUR/JPY - H1 Chart; M15 Entry

A note for this trade is that some discretion were made prior to this trade entry as the early hour spike was not taken much into consideration as the move failed to hold above the PRZ.


Having ignored the spike and since price action was still in support of a short, a short entry was triggered when price closed below the PRZ.


Signals validating the short entry were:

1. Primary trend on this pair was a down trend.
2. A confluence of 3 harmonic ratios were observed - 0.618 XA @ 112.410, 1.27 BC @ 112.607 and AB=CD @ 112.593.

Trade Details:

• Date: 01 Nov 10
• Time: GMT 05:30
• Entry Price: 112.507 (on M15 chart)
• S/L: 113.00 (49.3 pips)
• T/P: 111.714 (79.3 pips) - 0.886 AD Swing

Trade Update:


The 1st batch was manually closed on 01 Nov 10, GMT 08:23 at 112.255, netting a profit of 25.2 pips while setting the 2nd batch to break even.


The 2nd batch was closed on 01 Nov 10, GMT 08:59 when the protective stop was triggered, resulting in a break even.