EURUSD ( LONG TERM TRADE ) Buy + Sell Zone ( Gartley Pattern)
Of course head on ( NFP )
Bears might be stronger near-term !!!!!
Gartley pattern has formed 1hr chart,
Retracements that yield the most reliable reversals are the .618 at the B point and the .786 at the D point (PRZ)
Breaking above 1.11 would cancel the bearish bias and the pair would probably rise to 1.1130..
Let's see interesting situation.!!!!!!!!!!!
#bears
BEARISH BAT EURGBPThis is an opportunity i've had on my radar since last friday.
As the market slowly retraces back into our structure resistance levels this potential bat formation sets up @0.7911. Right now i'm looking for a rally up into this level to hopefully see a correction into our targets. For now all you can do is sit and wait!
Good luck trading everyone!
A Potential Move To The Downside ?Having different good trading skills set allows me another entry even when my risk preference wasn't met on the Gartley trade. On the 60mins, there is a potential for more downside move although the Bulls can attempt one more move to the north.
Still waiting to get Elliot's touch. Trade with care
Bearish Gartley Pattern EURNZDThis pair hasn't been trending for a couple of weeks now and so we're in a nice consolidation zone. Once such a zone shows up, advanced pattern opportunities occur and here is one of them. Let's take a look at this bearish gartley setup:
We're looking for a rally into the 1.6746 level to get short and hopefully get a pullback into our target points. This idea contains two fibonacci based target points and a stop loss point above X.
Before trading any of these patterns you should backtest them yourself to become a comfortable trader. One of the findings in my own backtest was the difference in performance between trading patterns in consolidation and in trend. The pattern setups in consolidation performed a lot better due to the "zone" where the pair is battling in. A lot of resistance and support at the highs and lows and no real directional movement is good for us as pattern traders.
Good luck trading everyone!
PRICE ACTION SPEAKS LOUD ON GBPJPY"Who is in control of price?"
i will ask myself this question to make sure i take the correct trades and think about the trade in more details...
what i see here according to price action its a nice bullish preceding trend that gets stuck on an area of resistance (which is full of sellers) and shows me this beautiful indecision candle or almost-dodji candlestick that indicates indecision between buyers and sellers.
i will be taking this trade at the low of the indecision candle, that way i will have some confirmation that bears want to sell and take the price down.
my risk reward? simple, 1:2.5
Good luck to myself!