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Gartley formation on reversal zone on EURJPYHey traders, after waiting for a long opportunity on this pair yesterday we've now changed our bias on EURJPY 0.13% due to price action language. Learning how to read a price chart gives an edge on the market and allows you to be prepared to whatever markets can offer. In this case, being the break of structure to the downside, trend is headed lower and i want to ride it as much i can. The first reversal zone of this pair would be the former support level that now can turn into resistance. Giving this situation on the 4hour chart, i know i will search for selling patterns through the blue box in lower timeframe such as 1hr and 15m. On the 15m chart we can see a Gartley advanced formation unfolding. Seems a good opportunity to go short to me. Stops above X, target as usual, or you can shoot for extended target given the situation. If you have any suggestions or questions, fill the comment section below. Otherwise, see you in the next chart!
Short
by Roker1
GBP.JPY - BEARISH CYPHER SETUP - 147.983On the GBP.JPY 15min chart we have a potential short opportunity at the D leg completion of bearish Cypher setup. The price reversal zone on this pair is between 147.983 & 148.456 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's. Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move. There is also opportunity to look for extended targets at around 146588 Stop loss would be placed above X leg structure resistance. Target 1 - 147.316 Target 2 - 146.903
Short
by UnknownUnicorn180388
17
AUDUSD - Bearish Gartley+++ Don't forget to LIKE & Follow+++I came late and got filled at better price with more than 1:1 Risk/Reward ratio on that Bearish Gartley Formation. Price didn't hit neither Target 1 nor didn't price closed above X so technically we can enter. Entry @ 0.7716 Stop @ 0.7737 Initial Target 1 @ 0.7689 Initial Target 2 @ 0.7669 Good Luck! -Alex I'm a Professional Currency Trader & Mentor with years of trading experience. Download my Free Ebook & transform your trading Today! bit.ly If you'd like to see more good trading ideas from me, click the "Like" button! You can get my trading ideas immediately, just make sure to follow me.
Short
by Aleksandar_Rose
GBPJPY - Bullish Cyper+++ Don't forget to LIKE & Follow+++There is a potential Bullish Cypher Formation on 1H, GBPJPY. Please be advised that stops are almost 200 pips - if it is too much for you look for an alternative reason for entering. Targets are as usual conventional, since it is a counter trend opportunity. Entry @ 134.50 Stop @ 132.62 Initial Target 1 @ 136.22 Initial Target 2 @ 137.28 Good Luck! -Alex Professional Currency Trader & Owner of www.beaprofitabletrader.com If you'd like to see more good trading ideas from me, click the "Like" button! You can get my trading ideas immediately, just make sure to follow me.
Long
by Aleksandar_Rose
NZDJPY 60 Bullish GARTLEY PATTERN @ 72.76Hi guys, I actually studied the Gartley pattern from a book named "Trade What You See" by Pesavento. It uses the Gartley pattern in conjunction with the famous AB=CD pattern giving us a nice trading range maybe to "dollar-cost-average" into a trade, reducing overall risk. Back to the trade idea, it is a bullish GARTLEY pattern @ 72.76 stop loss will be placed below the X leg which we use as good support in this case. Targets will be at the 38.2% and 61.8% fibonacci levels. IF/WHEN first targets are met, half of the position would be closed for profit and stop loss for the second half of the position will be moved to break-even, ensuring a risk-free trade. Thank you for your support. Trade Numbers: Risk: 32 pips x 2 = 64 pips Reward #1: 41 pips. R:R = 1:1.3 Reward #2: 67 pips. R:R = 1:2.1 Plan your trade... Trade your plan.
Long
by Krunal.Patel
GBPUSD GartleyPrice has put in a lower low, lower close on the daily chart, which gives me a bearish bias. The C-leg of a potential bearish gartley is complete, and I'm now waiting to see if price reaches the D-completion for a shorting opportunity in the direction of the overall trend. Given that the B-leg retraced as far as it did, the risk/reward on this one is fairly decent for a gartley. I use a 1.13 fibonacci inversion for stop measured from X to A. Remember to conduct your own analysis before placing any trade.
Short
by Kjetil_Johannesen
EURJPY Long: Bullish Bat PRZ Confluent with S/REURJPY has entered the PRZ of a bullish bat that is confluent with various other S/R elements. On the D1 time frame, a pitchfork aligns with with the .50 retracement of a larger XA leg. This area is confluent with the 1.786 projection of BC and and the completion of an alternate AB=CD pattern. There's a secondary structure low below this level to add support. Target is placed at the .382 retracement of CD which coincides precisely with the new pivot for this week. I am taking a conservative profit target at the .382 retracement of CD because a daily support trendline will likely act as resistance on the way back up. SL is placed below S/R. Confluence in the PRZ: Bullish bat pattern completion Pitchfork support .5XA (D1) Previous structure low 1.786BC projection 1.272AB=CD Unhit weekly pivot above price D1 Trendline, .5XA and Pitchfork Support: Thank you for your support and motivation!
Long
by glennmercer
6