A Bearish Gartley Pattern recently completed on Cabcharge Australia Ltd. (CAB on ASX.) The trade setup was identified in the November 14, 2011 issue of The Geometric Trader - Global Equities Report. The report stated that the setup was complete and to sell on a stop one tick below the low of the recent high bar.
A new high was made 2 days later and an order was placed to sell on a stop one tick below the low of the high bar. Our order was filled 2 days later at 4.51. The stop was placed one tick beyond the recent high at 4.71
As seen above, the trade worked. Our favorite method of managing a trade like this is with the Single In/Scale Out method of money management as described in the book The Gartley Trading Method: New Techniques to Profit From the Market's Most Powerful Formation. To learn about this effective trade management technique, click here to watch an instructional video. To identify Gartley Patterns before they complete, check out a free webinar entitled "Can This 75- Year Old Pattern Pinpoint Market Turns?" today Nov. 28th at 7:00 PM Central Time. Register here.
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