Bearish Gartley
XAU/USD - Bearish GartleyThere are some amazing setups forming on the charts, here we have XAU/USD on the 4h chart with a bearish gartley.
The measurements for a valid gartley pattern are detailed below.
B: 0.618
C: 0.382 - 0.886
D: 1.272 - 1.618
Final X to D: 0.786
This is a potential outcome for this pair, I would analyse the higher timeframes for direction before entering the move.
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USDCAD Bearish ButterflyUSDCAD 1 Day - Bearish Butterfly - 12/28/16<<>>05/02/2017
Legs A,B,C completed.
Leg D satisfied (BC 1.618) 2 days ago 1.37272
Leg D has room to play above 1.37272 some more but last nights action hit multiple walls 1.3746 candles.
Short Fib study (1.36499 - 1.37575)
.382 1.37164 - sustaining below is key 1st step down
.618 1.36910
.786 1.36729 - possible support at these levels but not confident market has reason to hold the range
Longer Fib Study (on chart):
.382 1.35541 - this is a significant price to break for large moves down
Day Trading with Harmonics!Hi guys,
here on the chart you can see 15m timeframe on NZDUSD. This Gartley lines up pretty well with a former structure level that could act as resistance now. Therefore, the likelihood of this trade is increased by that. Stops above X, targets as usual for harmonics.
If you have questions, or if you want to share your view, feel free to comment below.
Otherwise, see you in the next chart!
Is it crazy to short pound? Let's check price action!Hey guys,
i know what you may think, probably after one day like this for the pound you wouldn't even consider a shorting possibility. However, patterns are always repeating, and our job, as techincal trader, is to find those patterns and keep trading them.
So here on the daily timeframe on the GBPCHF you can see that the today's rally has brought price up to the completion point of the Gartley pattern and the AB=CD pattern.
This level also lines up with a psychological number, and most likely after today's close we'll be in overbought condition.
All the usual clues are there, the only part missing is a price action signal, that this time should be very strong; be careful when trading against the actual trend.
I'm going to pay attion to 4hr and 1hr charts to find trading opportunities within as long as price is in the blue box.
I'll keep you updated.
If you want to share your view, or simply ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Shorting pound is crazy? Let's check price action!Hey guys,
i know what you may think, probably after one day like this for the pound you wouldn't even consider a shorting possibility. However, patterns are always repeating, and our job, as techincal trader, is to find those patterns and keep trading them.
So here on the daily timeframe on the GBPCHF you can see that the today's rally has brought price up to the completion point of the Gartley pattern and the AB=CD pattern.
This level also lines up with a psychological number, and most likely after today's close we'll be in overbought condition.
All the usual clues are there, the only part missing is a price action signal, that this time should be very strong; be careful when trading against the actual trend.
I'm going to pay attention to 4H and 1H chart in order to find a trading opportunity.
I'll keep you updated.
If you want to share your view, or simply ask questions, feel free to comment below.
Otherwise, see you in the next chart!