This pair is once again testing a level of weekly support in the formation of a bullish bat. The D point is calculated just above this level so it may push past that point to retest the area, however, a considerate stop-loss shout allow for the move to breathe. This movement is coming coherently with a Bullish Gartley on the GBP/USD pair, adding to the solidarity...
Price has recently danced around the 1.241 level and appears to be moving in a Gartley formation. The potential reversal zone is calculated to slightly below this level but this is still indicating that price will bounce when the level is next retested. It may be wise to drop to the 1hr chart to seek a more accurate entry using candlesticks from a lower timeframe....
Since October this pair has entered into an aggressive uptrend! Price is moving in a bat formation, heading towards our PRZ. As per natural behaviour, price may enter slight consolidation at the PRZ before continuing with the original trend; I will be looking for an entry asap once the C-D wave is complete. 1st and 2nd Take Profit levels at 38.2% and 61.8%...
Perfect head & shoulders on this pair, finding strong resistance at high of 0.96. A bullish head and shoulders in an uptrend classifying as a continuation pattern, with added pressure at this level, a break would produce a push to the 1.00 mark. As a swing trader, this should provide plentiful opportunities to enter long positions on the lower time frame - specifically 4H.
Aussie-Yen showing us a bearish bat running coherently with the weekly trend line. Retracements showing a strong bat pattern- B and C points are below the close of price but still on the wick. As always, long as price remains on the wick and has not been surpassed by the body of a previous or following candle, the pattern is still valid. The D point is...
Here we have a bearish Gartley on the NZD/yen. Price is approaching a trend line parallel to the top leg of a channel from the daily chart. Looking to take a short position with a reversal around the 75.3 price mark. Retracement levels are ideal for this pattern- the C point is below the close of price but still on the wick. As long as price remains on the wick...
Here we have a bullish bat forming as price approaches the bottom leg of a rising channel on the weekly chart. Looking for a reversal around the 1.0828 mark and taking profit at the 0.618 fib level from A to D.
AB: 0.382 - 0.5
BC: 01.382 - 0.886
CD: 1.682 - 2.618
GBP/USD GARTLEY: Staying short on the pound, for obvious reasons. Here is a bearish Gartley parrtern likely to form on the 1H chart. Further consolidation on this pair is imminent considering recent happenings surrounding the EU negotiations and the upcoming US presidential election.
BC: 0.382 - 0.886
CD: 1.272 - 1.618
EURUSD Daily chart showing a potential bullish crab. If price falls below 1.10 I'll be looking for a dip towards the 1.07 with a bounce from the D point.
AB: 0.382 - 0.618
BC: 0.382 - 0.886
Similar to the USDJPY, instead we have a possible bearish cypher forming on the daily timeframe. This pair is in a weekly downtrend and has recently hit a level of support/resistance. The D point in the pattern could be a retest before further decrease in price. If the pattern completes I'll look for an entry around the 81.00 - 82.00 price level.
*First post.. Be gentle!* Bearish Gartley on the Daily time frame, looking to go short around the 109.00 mark. Price may edge past the mark and touch the trend line- i'll go down 4 hour, potential the 1 hour, for my entry point!