Bearish Gartley
AUDJPY Gartley bearish at key resistanceA Gartley advance pattern trading setup is forming.
The D point would be at a key resistance level , market has a consolidated bias which favors pattern creation and confirmation. There is also AB=CD completion above Gartley's D point. The AB=CD pattern trading rules indicate the entry point few pips BELOW D. RSI and price action would be our guide but right now if market moves to that level short entries look inevitable considering the great risk/reward ratio.
Stay tuned
With regards,
Michail Sideris
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.
If you want more trading inspiration be sure to connect with me on social media :)
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!