Unified Formation setting up here. Wait for the entry between D point completion and pattern invalidation level. This is an A* trade for me - meaning I will be taking 2% risk.
Based on my backtesting (2005-2018) this pattern has an average of:
- 61% Win Rate
- 1.35 R:R
- 3.15 Profit Factor (Risk $1 to get back $3.15)
- 10.9 Recovery Factor (Draw downs are ...
I am currently in the AUD/USD trade I posted last night, we have a potential bullish Bat on the GBP/JPY on 4 Hr chart completion at 143.53, conventional targets at 38.2 & 61.8 stops being below X leg. Penetration of B leg has already occurred.
Wait for confirmation within the red box. Take profits at .382 and .618 price extreme. Stops shall be ATR based once an entry reason is given inside the zone. Pattern is invalidated if it exceeds red box
A very deep gartley pattern is possibly on the cards for next week on this pair. As it did not break the 78.6 retrace on leg A-B and also leg B-C did not break the 88.6 retrace i find this to be a valid pattern which follows my rules. with a very small stop loss required due to how deep this pattern is, this could be a great set up to keep an eye on for the next ...
there are some instances where i trade directly at the D point of an harmonic pattern, and this is one of these cases. Reason why is that price has been rejected from a major resistance level and right afterwards it created this simple harmonic formations known as Gartley pattern. As of now, i'm looking to short the D completion point and set targets ...
very simple setup: a Gartley pattern on the 4H chart that's just been triggered. I wasn't on my computer so i'm placing my order now, if price will hit the D point again, then i'll be in. Make sure to put your stop loss below the X point. As for targets, i've used as usual the 38.2 and 61.8 Fibonacci retracement of the AD leg.
If you have ...
as you can see this idea is pretty simple. I'm looking at this pattern because its completion point comes right around a very important level of structure (in this case resistance) and it will give me a nice RR opportunity.
If you have any idea/question, feel free to comment below.
Otherwise, see you in the next chart!
i don't like to trade all the harmonic patterns i see, especially in lower timeframe. But sometimes it happens that they satisfy certain criteria that makes me comfortable using them as entry reasons. In this case you can see that the D point is coming right into a structural zone that i've highlighted on the higher timeframe (daily) and therefore the ...
very simple setup. On EURUSD we've recently created a double top on the daily chart and price has broken to the downside, giving us reason to believe it's headed lower (RSI divergence is also supporting that). Although the price has increased very rapidly over the last hours, i'm still incline to sell this market and i've also found a valid entry point, ...
this is a simple harmonic pattern that's unfolding on the 4hr chart on EURGBP. It's going to complete right at a daily structure. I'm going to sell the market at the D point, in expectation of a reversal down to 0.8820 level. Stops above X, targets as shown.
If you have questions/ideas, feel free to comment below.
Otherwise, see you in the next chart!
Hi Everyone, hope you all had a lovely weekend. Thought I will quickly shoot this on Tradingview, If you look at the 4 hr some will notice that we had a breakout of a bullish flag pattern. Now personally I don't trade this pattern but I can use it as a confluence. For breakout traders they will be waiting for a retracement to go long, me, on the other hand, is ...
on the daily chart on GBPNZD we've recently created a new structure high. This makes my bias directed to the upward direction and therefore more incline to take long opportunities. As i went down on lower timeframes such as the 4H, i've identified a nice harmonic pattern (a Gartley formation) that's right near the completion point (brown line). Since the ...
as with every week i've just released my videoanalysis where i explain my views and my potential setups for the week ahead. In this week's video i explained one of the techniques that allow you to take trades wherever the market is going to go. If you want to see that and other pairs, feel free to click on the link below.
Give me some feedback too!
Potential Bearish Bat Pattern Forming
Entry @ D-Completion (149.566)
Target 1 @ .382 (148.564)
Target 2 @ .618 (147.945)
Stop Loss @ 1.13 (150.289)
Please make sure the rules for entry match your trade plan