Akil_Stokes
Short

EURJPY: Potential bearish Gartley Formation in Bearish Rotation

FX:EURJPY   Euro Fx/Japanese Yen
Hey traders!

Looking at a potential bearish Advanced Gartley Formation setting up here on the EURJPY             . LOOKING LEFT at the predicted "D" completion price you'll also notice that this level has recently been respected as both previous structure support and resistance.

The "A" leg of the Gartley Formation also represents a break and close below previous structure support which will help with our longer term analysis for those looking to take extended targets.

I know a lot of you have taken advantage of this weeks offer, so we'll be reviewing this in a few hours as we start our trading week. See you there!
Trade active
Trade closed: target reached
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Excellent chart analysis. I hope one day I can have these kind of readings. You make it so easy. See you in the Live room today.
+1 Reply
thanks! It comes with time, many many many many hours of practice eventually pays off
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Awesome analysis, Akil! Mad respect for your mental/psychological approach to trading. Trying to learn something new from you and the others at TE each and every day. Hope your week goes well!
+1 Reply
Akil_Stokes PRO We_The_North
Thanks!
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great set-up! Is the pattern still valid for you today? I am asking because C blipped past the 88.6 fib of AB. Cheers Pat
+2 Reply
Hey Pat, yes it's still a valid potential setup for me
+1 Reply
PHL Akil_Stokes
cool, thanks for the feedback! i guess you got filled as well. I saw a bearish bat forming before that gartley was creatred so I took it as a bat instead of the gartley with a bit better RR :). Fingers crossed!
+1 Reply
Best of luck!
+1 Reply
nice work akil
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Akil_Stokes PRO mohamed.alrashedi.3
Thank you
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open trade
+1 Reply
Akil_Stokes PRO prince125700
Best of luck!
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prince125700 Akil_Stokes
tp ?
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Akil_Stokes PRO prince125700
Traditional 38.2 & 61.8 levels
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im already in the trade during that pin bar formation. Big thank you to videos and lesson provided by Trade empowered.
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Great to hear and you're welcome. As always I think I speak for all of us when I say that I appreciate the support. Good luck in the trade!
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Yes Sir, I am in this short trade as well from 114. Thanks for sharing
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No problem, hopefully we can both add a "hit target" update at somepoint
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Hi. Akil good work as always. Short entry still valid ????????
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Thanks, we're past the initial entry so if you're taking it as the advanced pattern I would say no, if you're using it as a TCT then I'm sure you can still create a good risk/reward
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My entry was 113.786. Thank you
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Nice Good Luck!
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Thank you Man. Nice to get good advise from Professional.
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That's what I'm here for, just as someone was once here for me
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Hello, what SL and TP would you suggest?
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It depends on how you're taking the trade, but i would certainly have stops beyond structure and traditionally you would use fibonacci levels for your target taking if taking this as an advanced pattern formation
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JvD3 Akil_Stokes
Alright, thanks!
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Man. EUR/JPY going up. Don't see any short here.
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In my opinion the best thing to do is set it and forget it. It can be extremely tough mentally to watch a trade go back and fourth while it's in progress.
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Great setup. On 1hr chart there is a double top with bearish divergence.
+1 Reply
Akil_Stokes PRO burgicmarko
Thank you, and a very good spot on that double top
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Target hit for me on this and the bearish cypher on the GBPJPY. Always feels good to see a set up coming and having a game plan in play, especially when you have full-time job and can't be in front if the charts all day!
+1 Reply
Well done, I've banked a few on both as well. That's what i love about trading, your money can make money while you're doing something else. Great trades
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Hey Akil, was just curious about something. It looks as if your trade closed before taking 2nd targets at 61.8. Was there a technical reason for that or personal? Or do you still have it active on your own personal account?
+1 Reply
Akil_Stokes PRO We_The_North
Tradingview doesn't have a target 1,2,3,etc option, but in this particular trade I was stopped out for BE on the second half of my position
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We_The_North Akil_Stokes
Oh ok gotcha.. Thanks
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