After hitting resistance at 0.91496, the following correction waves have given us a Gartley Movement. The PRZ is coming in at 0.896, from which we will enter a short position. TP at 61.8% with 2:1 risk. Look for a stall out/reversal candle on the 4hr chart for a solid entry.
Gartley ratios
B: 0.618
C: 0.382-0.886
D: 1.272-1.618
XD: 0.786
In this episode of Bat week we have a Bullish Bat pattern on the NZD/USD. This bat formation seems to be reversing bang on the D point, however, this trade is incorrect and has been rendered a FALSE pattern. Reason? the CD extension of the BC wave calculates to 283.20% This does not fall in line with out ratios, but is often overlooked when traders are too busy...
This pair has appeared rather volatile as it enters consolidation. The 5-O movement dictates that there should be a bounce north at 0.74555. As you can see, this falls within pips of the pivot point where price has previously found support resistance! Starting from the top, the points are identified as OXABCD. By buying it at the D point, we are holding the trade...
Looks like I got here 24 hours too early. Considering the dollar-cad is a major, there really is no excuse- I'll take whatever abuse comes my way! No harm in pointing out the bearish bat that has formed on the 4hr chart. All points agree with the certified ratios- price was overbought when it hit the PRZ and it looks like it's on its way to the (would-be) TP...
Bats everywhere so far over the past month. This pattern is ALMOST complete; I will NOT enter until price touched a PRZ at 1.20667. Around 1:2.5 Risk:Reward. This is a great set up as price for the pair is still on consolidation after Brexit. Hopefully price gets closer to the D point so we can enter!
The EURO/USD as of recently has been in a clear ranging market. Inside the barriers of support and resistance we have a bearish bat formation. If the ranging market is to continue we will see a successful pattern here.
BAT Ratios
B: 0.382-0.5
C: 0.382-0.886
D: 1.618-2.618
XD: 0.886
Here we have the beginning of a correction wave from the recent rally of the Aussie-Yen (or, at the very least, consolidation). A pivot area can be seen at 85.47. The pattern on the left shows the potential the crab formation with the PRZ just above 85.62, while the chart on the right shows general movement around a rough directional trend line. Should this...
Back on that aussie yen. Bullish Gartley formed right on that rough directional trend line. The chart speaks for itself. Once again, price being rejected at all retracement levels. Too late to get in? Probably.
Gartley ratios
AB: 0.618
BC: 0.382-0.886
CD: 1.27-1.618
XD: 0.786
Forex markets throwing bats across the board this month- here's the layout on the pound-frank.
The pair isn't really going anywhere, gallivanting aimlessly sidewards since the turn of the year. That said, lows have been getting ever slightly higher over the past 3 weeks; shall this continue, we should see another low at 1.243. A reversal at this price would see a...
That long term down trend on the yen across majors/crosses has broken and price for a while was on the up. We have since saw price enter into a consolidation phase with unconvincing candles on the daily chart. on the 8th of February, price burst with a bullish impulse wave- the following correction waves made a solid and successful Gartley movement (which I...
Could be the start of a second move down for a much deeper short... If it forms a BEAR GARTLEY I will certainly expect a deeper SELL
130+ Pips SELL from (D) PRZ
500+ Pips SELL from (D) PRZ (POTENTIAL EXTENDED TARGET)
Good Luck!
KEEP THE RADARS UP!!!
entry 121.79
target1 .618 fib
this is just how I trade the butterfly, follow your own rules on how you trade it, if its in your portfolio or trading plan.
sorry forgot to put it on the chart, but the entry is an 1.618 extension of AB leg
good luck
