Following the pattern match, there seems to be some increased selling pressure in the upcoming candles on this 30 minute chart. Great pattern ratios, and some selling pressure, might be a time to go short for a few pips.
plain and simple: this is an harmonic pattern (specifically a Gartley Pattern) that's been setting up on AUDJPY. Its B point is very deep, therefore its D completion point will come at a very low level, giving us an amazing RR ratio for this kind of patterns. As usual, stops below X, targets at 382 and 618 of AD. Trade safe!
If you have any ...
some great R/R on this.
I lost 2 in a row on eurjpy last week, hopefully this can turn on the entry and give me some profit :)
Also, Im going to start back testing GBPAUD because i have heard it works great with advanced patterns. I would like to remove audusd or nzdusd as there returns are pretty poor.
Again, another pair I do not currently trade as I am still going through backtesting/forwardtesting on this instrument, but this would be something I'd be looking for once this pair is added to the portfolio.
The D completion zone of this bearish Gartley formation is also completing right around the 1.2750 even number. Would be looking for traditional targets at ...
here on EURNZD i'm ready to go short. Do you want to know why? Here's explained: first of all, i've outlined a key structure on the daily chart (yellow box), then i lowered my timeframe to 4hr chart and there i saw different clues pointing on the same reversal direction. We've a Gartley pattern completed and still valid, we've an AB=CD pattern just ...
this is a simple Gartley formation already completed on 1hr timeframe. Its D completion point lies on a daily structure level and that boost my confidence on the trade because i know this is an area of value also in higher timeframes. Being so, i'm taking a short with stops above highs and targets as displayed above.
If you want to ask questions, feel ...
Late post on this but orders have now been filled on this pattern formation short. Just hanging around the entry zone at the moment - Let's see if price makes its way down to hit our targets!
US Oil Inventories number coming out in about 20 minutes, not directly related to this pair but as we are vs the CAD in this trade we might see some increased action around ...
FOREXCOM:GBPUSD Has been consolidating within a tight range for the last few hours and is setting up a potential Bearish Gartley pattern within that range.
If the pattern should complete then I would be looking for a selling opportunity back into the lower support lines of the channel/range.
If the pattern does complete, I would be looking for an entry condition ...
from price action recent big move to the downside it has pulled back into structure. in doing so has formed a bearish gartley formation.
I am already live holding 2 positions. Entry was at 1.30156
stopps at 1.30347
1st Target 1.29862
2nd Target 1.29658
a simple harmonic pattern here on GBPCHF. It's going to complete right at a structure level: with stops above X and targets at 382 and 618 of AD leg it could be a nice shorting opportunity. Let's see how it plays out.
If you have questions or ideas to share, feel free to comment below.
Otherwise, see you in the next chart!
Since price actions aggressive bullish move to the upside, we now see a relief move as buyers take off profit! price action has started to retrace and in doing so has formed a valid Gartley pattern!
If price action decides to make its way down to the D Completion (1.29223) there will be a limit order waiting for him!
Target 1 will be 1.29634
Target 2 will be ...