Bullish Gartley
GBPUSD-Weekly Market Analysis-Nov18,Wk1This is a counter-trend trade setup. However, the risk to reward ratio isn't the best, at the 2nd target it does not produce 2 times of the reward to the initial risk.
Something for you to consider.
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GBPUSD-Weekly Market Analysis-Nov18,Wk2In reference to the Daily chart, GBPUSD it is still on its bearish trend. Thus, this trade is a counter trend trade.
If you aren't in yet, DON'T CHASE the market as the 1st target has been achieved, we have already shifted our stops to entry.
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EurZar bullish gartleyThe short term trend has been bearish the past couple of days.
The main trend is bearish.
Our trade is in line with the main trend though not at any key support area.
It does offer a good risk reward ratio though and for that reason we decided to take it.
Keep your stops tight.
Stops and take profit levels are as shown on the chart.
Bullish Gartley + Support level + Trend + RSI confluenceWe are some hours /minutes away from the completion of a bullish gartley.
The trend had been bullish since a while back and therefore we are in line with the trend.
The RSI is heading to around 30 meaning Natural Gas has been over sold (at least in the one hour time frame) in which case we should be looking for buying opportunities.
Entry price, stops and take profit levels are as per the chart.
Disclaimer: All this confluence only give us an edge and not a sure bet.
Never risk funds you are not ready to lose.
Make sure to have your stops placed.
Anything can happen in the market.
Let's see how this plays out.
Is GbpUsd finally correcting ?FX:GBPUSD
The trend for the better part of the year has been bearish and there has been no significant correction.
It now seems like price is finally correcting and we are looking to ride this correction.
Our views are also supported by the formation of a bullish gartley at a a significant support area.
Our first take profit is at 1.32 but if this plays out well we might seek to ride this to around 1.35.
With brexit negotiations still ongoing, make sure to have your stops in place. Anything can happen.
POTENTIAL 16R Bitcoin counter trend set up !!!BITFINEX:BTCUSD
First things first. This is a trade within a trade. Our main trade is bullish as I had posted earlier.
We are waiting for price to reach 6553.3 for the bearish gartley pattern to be complicated.
This trade is against the trend and that explains why we have a tight stop.
Trades like this rarely come along but when succesful they are highy rewarding.
Let's see how this plays out.
NzdUsd swing trade set upNZDUSD
A couple of things to point out on this one.
1. We have the formation and completion of a bullish gartley pattern.
We can't really say if its in line with the trend since that is one hell of a gartley.
2. There is a strong resistance area between 0.68 and 0.69. It has acted as both support and resistance for a couple of years now.
There are three ways how this can play out.
1. We take the trade and it goes straight down and becomes a loser. (Bummer)
2. We take the trade, price rises to the 0.68 to 0.69 region and then heads back down and becomes a loser. In this case we will have a trail stop so that we will at least be taken out at break even. (Not that much of a bummer)
3. Price takes of in our favor, breaks the resistance region and hits our take profit. (Ideal scenario)
As of now we just wait and see how this plays out.
PS This might take a couple of weeks to play out. Be patient with it.
GDX POTENTIALLY TO SET BULLISH GARTLEYIn the weekly chart the movement of the GDX last month continues to decline out of the sideways channel and the triangle pattern is bearish. Although there is a rebound after touching the support at 18.55, bearish pressure is clear as long as the index value is still moving in the formed downtrend channel, or the index value is unable to move up above 22.93 as the previous swing high. A downtred push has the potential to set Bullish Gartley pattern if the GDX value touches to the next support in the 16.62 area, meaning if the pattern has been fulfilled then the last point of the pattern has the potential to be a reversal zone, a failed pattern is formed if the price turns up and exceeds 25.71.