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Bearish Gartley

AUD/NZD - Gartley 886 and CypherWhat's going on traders, I hope you've all had an excellent weekend. I'm bringing you an opportunity to keep on the watch list, today we have AUD/NZD on the 1h chart with a bearish gartley 886 and bearish cypher. Gartley patterns at an 88.6% retracement of XA are unique, this is utilised when the AB=CD completion extends past the 78.6% retracement which is the standard measurement. If we execute the trade based on the gartley, allow more room for the stop loss than usual... Between 1.0 and 1.13 of XA (beyond X). The cypher pattern uses a stop loss beyond X. Pay attention to both formations if we see price break above the 1.07800 area, we can then start considering a shorting opportunity. Feel free to share your views below.
Short
by LewisGlasgow
5
NZD/USD - Gartley 886 Interesting situation on the 15m chart for NZD/USD just before market close. We've got a valid bearish gartley 886 that completed earlier today, price has now retested the same area and opened up a potential short. The measurements for a valid gartley pattern are detailed below. B: 0.618 C: 0.382 - 0.886 D: 1.13 - 1.618 Final X to D: 0.786 (0.886 due to AB=CD completion) Gartley patterns at an 88.6% retracement of XA are unique, this is utilised when the AB=CD completion extends past the 78.6% retracement which is the standard measurement. If we execute the trade, allow more room for the stop loss than usual... Between 1.0 and 1.13 of XA (beyond X). Hold off on entry for now until we get a clear signal. Thanks for your support as always!
Short
by LewisGlasgow
14
USD/JPY: Worked out pretty decent!Hi everyone, Yesterday i posted an analysis for the GBP/JPY. It did not hit our buy order, so no loss or profit was involved. Otherwise, it hit our target. So lets go to this successful trade that i made. So as you can see there is a bearish Gartley pattern. I entered the trade when the D hit the 78.6% retracement, which it did. It hit my target very quickly :) So there is further not much to say, i have mentioned the Gartley pattern fibonacci retracements in the picture, so you can take a look at it. Almost forgot, i did not invest real money in this trade. Everything i do is pure on paper-trading! Thank you for taking your time. If i made a mistake, drop a comment with a argument. If something is unclear to you, or if you have any questions left, please drop a comment too :) StenB.
by StenB
CAD/JPY - Bearish Gartley Hey guys, back on the charts this week! Today I am looking at a bearish Gartley position on the cad-yen. Oil has been rallying since June last year and is currently at a point of making a higher low. Should this turn out to be a level of resistance rather than just a higher low then we may see further decline for the value of the Canadian Dollar. Furthermore we are also awaiting this month's release of the Japanese interest rate, which is expected to remain at -0.1%. Their trade balance is also expected to have dropped by 219B. With this pair we can clearly see on the daily chart that price has made created a new low, finding support before bouncing. We are now at a point where we are creating a lower high and testing a level where we have had previous support. As a result, this may be a key area to scope a short entry. On this occasion our risk:reward will likely be 1:2 as we are trading the Gartlery pattern- the entry points noted may be subject to change as per price action. We will also be using our 2 levels for TP1 and TP2 at the 0.382 and 0.618 levels respectively. Gartley ratios are as follows: B: 0.618 C: 0.382 - 0.886 D: 1.272 - 1.618 X-D: 0.786
Short
by KyleMcQuade
Hanging man Doji on right shoulder of a triple top...No wild-eyed predictions here folks, just observations and ideas... maybe, just maybe, we got topping action and what looks bearishly like a head & shoulders triple top in Dow with textbook Hanging Man today and the appearance of another bearish Gartley forming, with left side completed. IF price action confirms this pattern, then the downleg to trendline will be swift to 24K +/- 200 IMHO. I will not presume to tell you that on a certain day the stars will align to produce this result but it is market forces of supply and demand that could cause something like this to play out, I'm afraid. Darn it anyway! Heck, maybe it will go up 2K and prove me wrong - I wish!
DJ:DJIShort
by DaddySawbucks
Risky NZDUSD SHORT Gartley? 100 pips Beware of the news over in a few hrs -- !!! Dangerous late entry !! However, we have a Gartley! Point B - price retraced XA, closed at 0.618, candle wick not beyond 0.786 Point C - then price retraced AB, closed bw 0.618 & 0.786 Point D - then price retraced extended AB up to 1.272 zone 20 pips SL, two trades TP at .382 & 0.618 respectively Total 100 pips Careful if you're entering late (i.e. now!) Remember to trade your plan - www.babypips.com #Follow @Bizlus
Short
by bizlus
2
Bearish Gartley makes the perfect downtrend break + retest!Bitcoin is currently consolidating between the resistance and support line. After observing Bitcoins behavior we can make the following observation(s): - Bitcoin's price bounced when RSI hit oversold condition on the daily. - Bitcoin's daily MACD crossed right after it tested the support line several times. We can spot the start of a possible Bearish Gartley which could make Bitcoin break the resistance line. This Bearish Gartley would copplete at approximately 10700 USD. The Bearish Gartley, after completion, retraced an average of 18% ( Based on the data used from thepatternsite.com ) If the bearish Gartley completes, followed by an average retrace after the completion of the Gartley, this would result in the perfect retest of the resistance line.
BITFINEX:BTCUSDLong
by RJtradescrypto