based on the current PA it looks like 1.9176 is acting as resistance and it is also the 88% of BC move. I am planning to short this on the break of PINK support line at 1.8928 , my target for this will be a. the pitchfork medium line(1.8760) b. confluence of support in dash line 1.8684
with respect to my previous chart on GJ the bullish gartley is completed. The price did pierce into the PRZ area ,now trading above it. Entry and target are shown on the chart
I am trying this pattern for the first time and trying to catch the very last leg of this pattern. This last leg is also matching with the potential harmonic ABCD pattern. expected target date 12-13 th of feb 2015
i will be watching the PA near the PRZ area to trade this gartley.
Based on Current PA it looks like its trying to complete Potential Bearish crab and its also supported by NZDUSD down move. I am watching closely to try and catch the CD leg of the CRAB formation.
Update done and dusted Long Trade Update: 1/21 - Closed the trade at 1.9871 Update: 1/20 - close to the target of CD leg completion . Trying a long trade here to catch the CD leg of Potential bearish Gartley. Good risk reward ratio. will close the trade if the price goes below C.
I am expecting GJ to continue its south journey atleast till 61.8 retracement of previous move. There is confluence of 200EMA at 61.8 retracement as well.
based on the daily chart this will be the first time the price will be testing the break of upper trendline taken place on november 11th 2014, ( good area to long with tight stop loss. If that breaks the second area to long will be the touch of lower trendline near 137. Note: Also the current price level is the 61.8 retracement of move from 16th of october 2014...
i will be interested to take longs on both Gold and Silver on the break of dotted trendlines on daily chart, i will watch the price action near this trendlines prior to the entry . Silver: Upper Chart Gold: Chart below
Price is closed to low of 2nd of August 2012 , double bottom (circles on chart) ? . If it forms double bottom and there is also a confluence of lower trendline so i think this will be a high probability Long trade . A long trade with 100pips SL is worth trying.
Since none of the harmonic patterns are working great on this pair for now. I am planning to try couple of longs based on some strong support areas. Long areas are marked on the chart( for both trades SL of 150pips. i hope this works out.
Potential Bullish Gartley is in progress. Watching the price action at current level, so far the PA respected 100ema and its trading below it . i may short here to catch the CD leg.with a SL around 1222. If the price goes back/above C then this pattern is not valid.
Bullish Alt BAT , 1.93xxx area has been strong support for quite a while. i would Long around 1.936x area with the SL around 1.93
possible bullish Gartley on 4hr time frame, may short now for short term and then buy at the completion of this gartley around 1159.xx
Nice emerging bullish gartley , good interesting buy zone between 1.9782-1.9735. good confluence of trendline in that area .