2618 & Gartley on EURAUDHi guys,
two different setups on this pair, there's a Gartley formation already completed and a 2618 that could be completed on the next hours.
As you can see in both cases we can earn some profits, keep in mind that this particular time i'm going to use 1 single target for the pattern (at the 2618 completion) with stops above the X.
Good trading!
If you want to share your standpoint, feel free to write below.
Otherwise, see you in the next chart!
Bearish Gartley
EURUSD 240 The Devils Gartley?Greetings,
On the chart you see two overlapping gartley patterns of which point D would be at 1.0666,
a perfect number for a short. The chart counts two invisible pitchfork tools of which I have only left the intersecting trendlines at D.
These pitchfork trendlines are the dotted blue and dotted purple lines. If requested I will post the chart with the pitchforks visible.
The horizontal dashed line speaks for itself, it obviously plays the role of a solid support & resistance line.
The grey line crossing B has touched the bottom of 2017-01-03 at 1.0340, price has been dancing around it as you can see.
Then there is the last trendline, the orange one. I drew this one as last and found it had been respected several times in the full past year.
As a first target you could pick the 61.8% fibonacci level of CD at which a flag was formed last friday, although you could take full profit as the risk - reward ratio is splendid.
I would also like to note that if you draw a harmonic pattern from the highest point in this chart, which is 1.0828, and use 1.0666 as B it will show you a potential bat pattern.
Thanks for stopping by and happy trading!
Gartley pattern at market at Daily StructureHey guys,
as you can see above in this pair price has recently created new lows, breaking structure to the downside. This tells us that price wants to go lower, therefore we can look for shorting opportunities at structure level, such as the broken support that should act as resistance once it was violated.
In this zone it happens to be the D point of a Gartley formation that provides a nice short entry.
Stops above the X, targets as usual for patterns.
If you have any question, feel free to comment below.
Otherwise, see you in the next chart!
Gartley pattern at market at Daily StructureHey guys,
as you can see above in this pair price has recently created new lows, breaking structure to the downside. This tells us that price wants to go lower, therefore we can look for shorting opportunities at structure level, such as the broken support that should act as resistance once it was violated.
In this zone it happens to be the D point of a Gartley formation that provides a nice short entry.
Stops above the X, targets as usual for patterns.
If you have any question, feel free to comment below.
Otherwise, see you in the next chart!
Gartley's coming on AUDCADHey guys,
i bring to your attention this kind of harmonic pattern that's completing right now on this chart, it is called Gartley.
Its completion point D is right around the corner. Orders set.
Stops above X, targets at the .382 and .618 of the AD leg.
Feel free to write below for any matter.
Otherwise, see you in the next chart!
Good confluence on CADCHFHey guys,
i want to share another type of analysis today that i really enjoy doing: it is called CTS and it stands for Combined Tecnhical Score. It basically consists on finding more reasons all together in order to increase the likelihood of the trade itself.
First, i want to select my trading zones by using higher timeframe structure: the blue box i've drawn actually represents the daily structure zone, where i can look for trading opportunities.
In addition to that, i've found an AB=CD 1.27 pattern completing at the same exact level of the Gartley's completion. Both end up right at the psychological number (0,7700).
All these reasons make me feel more confident on this trade.
But as a conservative trader, i think i'm going to watch for price action to send me weakening signals and then sell at market.
I'll keep you updated.
Feel free to write below if you want to ask quesions.
Otherwise, see you in the next chart!
Bearish Harmonic Pattern - GBPJPY (Daily)Hello Traders,
I have observed potential Bearish Gartley formation on GBPJPY. Potential Reversal Zone (PRZ) is highlighted for short entry for potential swing trade. Here, PRZ is made of AB=CD, 1.27AB and 0.786XA Fibonacci ratio confluence. This potential set up has a risk/reward ratio of 1:1.2 for Target-1 and 1:2 for Target-2.
Follow this idea for further updates.
Happy Trading!
GBP/JPY potential gartley setups!Double check to make sure the gartley setup is still valid before entering trade!
long gartley ;
stop loss below - 135.4
limit entry long around - 137.86
t1 - 141.8
t2 - 143.84
short gartley ;
stop loss above - 150
limit entry short around 145.84
t1 - 140.5
t2 - 139
!Double check to make sure the gartley setup is still valid before entering trade!