Akil_Stokes
Long

AUDCAD: Another Successful 2618 Turned Potential Gartley

FX:AUDCAD   Australian Dollar/Canadian Dollar
We saw this earlier in the week on the DAX             , but chart above features a completed 2618 trade that is now looking to potentially complete a bullish Advanced Gartley Formation down at the .9957 level.

This type of trade represents a perfect example of when to use a "Stop and Revers" ( SAR             ) in order to liquidate the remained of the original positions and immediately get involved in the new one.

With this being the last trading day of the week I'm interested to see how things play out. I'm having a good week thus far BUT I've got a few positions open on YEN pairs that are holding a lot of risk so the numbers can easily flip.

As always I'll keep you guys updated in my next video.

Good luck out there today traders. TRADE SMART
Trade active: Filled Long
Trade closed: target reached: 1st targets Achieved
Comment: Forgot the total +63
Nice spot Akil
+1 Reply
Thank you Makolico
Reply
thanks Akil why DAX is related to this chart?
+1 Reply
TomPower PaoloC
It was a replay of the successful trade he had on the dax
Reply
The DAX offered a similar opportunity a few days ago with a 2618 turning into an advanced pattern formation
Reply
PaoloC PRO Akil_Stokes
thank you
+1 Reply
No problem, there should be a chart attached showing the other setup as well
Reply
PaoloC PRO Akil_Stokes
do you mind if I ask one more question? .. feel free to reply or not the XA 0.618 is more close to to 0.786 how do you determinate the D of the ABCD pattern?
+2 Reply
In and ABCD pattern the C-D leg should be of equal length as the A-B
Reply
PaoloC PRO Akil_Stokes
not always if the A-B retracement is at 0.382 the extension of C-D can be 2.24 or 2.618
+1 Reply
I think you've been given the wrong information about what an AB=CD pattern is
Reply
Once again great 2618, Akil! I love when markets put in a series of opportunities like here 2618 turns into entry of a bigger Gartley :)
Did you enter right on 0.618 on that 2618 or you did wait for entry reason?
+1 Reply
Akil_Stokes PRO Aleksandar_Rose
I did not take the 2618, I use it as a technique but not as a strategy like Charles does in warroom. he's been killing it though. For me it depends on the situation and what the trade is but I'll typically wait for an entry reason within the killzone
Reply
Good Akil, I have the same area using different analysis. Your analysis made me confidence about mine, lol

Thanks
+1 Reply
That's great to hear. Best of luck if you end up getting involved in this trade!
Reply
Thank you Akil, As usual very clear submission.
+1 Reply
Akil_Stokes PRO ChandanaHerath
You're welcome Chandana, and thank you for the comment!
Reply
Are we now looking at a Bearish Cypher?
+1 Reply
Close but no it's not going to be a valid cypher a
Reply
I dont see double top there ?
+1 Reply
Akil_Stokes PRO PiotrCzajkowski
What price point are you referring to?
Reply
Hi Akil! now that the cash from the bat pattern is in the bank, do you also see a bearish cypher forming (4H)? it seems like this pair has a never-ending chain of trading opportunities and patterns thesedays :D Cheers Pat
+1 Reply
PHL PHL
gartley, not bat of course
Reply
Yes I do, this was actually my best advanced pattern formation pair last year as it consistently provided us with back to backs. This year not so much but consolidation will do that for you.
+1 Reply
Nice Trade
+1 Reply
Akil_Stokes PRO edwardtackett
Thank you
Reply
thanks Akil
+1 Reply
No problem
Reply
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