JasperForex
Long

EURJPY: Bullish Gartley on the 4H

FX:EURJPY   Euro Fx/Japanese Yen
There are several EURO             news events this morning (pmi´s and retail sales). Depending on whether they are favorable or unfavorable as a whole, we could have an opportunity to trade out of those news events with the reversal of an advanced price pattern that is nearing its completion on the 4H timeframe. Price is already testing the potential reversal zone and this set up qualifies as a “trade candidate” and goes on my watch list.

When defining the potential reversal zone (PRZ) for a Gartley pattern , we look at the projection of three harmonic levels. I: the 786 retracement of XA, II: an AB = CD pattern and III: a BC             expansion converging in the same area (in this case 1272 BC             ). This defines a tight zone, about 26 pips wide, represented by the orange lines in the chart. Should price action reverse convincingly, I would enter long. SL goes 10 pips behind the next support level. TP1 = 382 retracement of AD and TP2 = 618 retracement of AD.

There are 220 pips to be made (if this pair follows the script) and the trade has a reward – risk ratio of 2.0!
You don´t need to be a weatherman to know which way the wind blows - B. Dylan
Yahia.Awes
2 years ago
Nice analysis, already making some pips because of this great chart :-)
+1 Reply
Are you in this trade?

My forecast aims for further downside.

snapshot
+1 Reply
Yahia.Awes IvanLabrie
2 years ago
My RSI in the 1H chart is saying that it's oversold now. So I think a small correction to the previous level will be the minimal upwards movement.
+1 Reply
IvanLabrie PRO Yahia.Awes
2 years ago
Well, the prz in Jasper's chart is spot on, but I don't think it'll hold. Maybe a little retracement, and this trade works, but all the way to 135 is a bit too much.
Between 132.525 and 133.539, there is strong support.
+1 Reply
Yahia.Awes IvanLabrie
2 years ago
My first TP is on 134, we will hit thta for sure.. The RSI is below 30, time for a correction now. In my personal opinion I think we will hit the 135 and maybe even further.
+1 Reply
FXViper Yahia.Awes
2 years ago
RSI by itself is meaningless ;)
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Pip_Alchemist
2 years ago
***EURJPY LONG EXECUTION***
+3 Reply
Pip_Alchemist Pip_Alchemist
2 years ago
I have a similar set up! I am long EJ already...
+3 Reply
Yahia.Awes Pip_Alchemist
2 years ago
I'm long too with the first TP at 134.
+1 Reply
IvanLabrie PRO Yahia.Awes
2 years ago
You guys are brave!
I'd rather go for trend following here, but well.
Good luck!
+2 Reply
Thank you all for responding; I appreciate it, exchanging views on trade setups is fun and an opportunity to learn from seeing how others perceive a particular setup. Let me give you my view. I am not saying this trade is a guaranteed winner and price will for sure reach the 135 handle, because I don’t “know” what the market will do.

What I did was recognise an opportunity (a Gartley pattern nearing its completion) that is worthwhile putting some risk on and I predefined and accept that risk. Harmonic patterns have a positive expectancy over a large number of trades when traded consistently to a number of pre-set rules. Whether they go with or against the trend.

Lets see how this one plays out!
+3 Reply
IvanLabrie PRO JasperForex
2 years ago
Indeed, better stick to your own rules like a robot...good way to stay consistent.
+1 Reply
EmmyTrades JasperForex
2 years ago
Wow... like how you see this.
+1 Reply
michaeljacob
2 years ago
where do you guys see EURJPY stopping?
+1 Reply
JasperForex PRO michaeljacob
2 years ago
Its at a support level now.
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JasperForex PRO JasperForex
2 years ago
Fyi: this pair has a high positive correlation with EURUSD.
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michaeljacob JasperForex
2 years ago
whats your long entry?
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michaeljacob JasperForex
2 years ago
i am looking for consolidation patterns dont see it yet
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Mr DL
2 years ago
Weekly charts look bearish
+1 Reply
michaeljacob Mr DL
2 years ago
i have been scalping this pair in both directions its a good mover. but longer term it is def bearish.
+1 Reply
JasperForex PRO Mr DL
2 years ago
Advanced price patterns have a positive expectancy over a larger number of trades, whether they go with or against the trend and a retracement could occur before any further downside. The pattern overshot the potential reversal zone, but has not been invalidated (for this, SL level would have to be passed) so is still very much in play. Lets see how this one plays out.
Reply
HexVex
2 years ago
Proof pricks like you will use patterns even if macro micro and common sense says skip this one at least. Or buy it unless you are nuts. Buy more euros please!!!!!!!!!
-5 Reply
JasperForex PRO HexVex
2 years ago
A trend does not always go in a straight line and harmonic retracement patterns, once completed, can provide a reason to enter a trade. I did not shoot for extended targets here, the idea was to trade a potential retracement. Everyone was free to take it, leave it, agree with it, disagree with it, criticise it or provide any kind feedback as long as its done in a courteous and constructive manner. You sir need to learn how to interact with fellow members if you want to be part of a worldwide trading community with traders from all timezones and of all levels.
Reply
HexVex
2 years ago
Advanced twat!
-7 Reply
JasperForex PRO HexVex
2 years ago
I don’t pretend to “know it all”, am still learning myself as a novice trader and am open to constructive feedback aimed at improving my trading. That’s what this website is based on. The fact that you are incapable of doing that and immediately resort to name calling and personal attacks says a lot about you. Have a good day.
+5 Reply
DanV MOD JasperForex
2 years ago
Ignore the nonsense posted by some sour grapes,. You are doing well and appreciate your contributions and sharing. Some mothers do have them. lol
+5 Reply
Nico.Muselle MOD DanV
2 years ago
Exactly, this guy clearly has some frustration to vent, he did the same on one of my charts.
+5 Reply
DanV MOD HexVex
2 years ago
Hi Mate, is this some sort of personal attack as I cannot see anything understandable in your comments? Your comments are not making sense and therefore suggest you stop this nonsense. Otherwise your comments could be deleted as kind of spam. Just saying.
+6 Reply
HexVex DanV
2 years ago
Your chart ideas should be deleted as spam!! When was the last time they made money or sense DANV? Why do you think you're holding this guys hand. He's just a creation. He might be your new self! Why dont you just ban me from this site! You know you want to :)
-8 Reply
DanV MOD HexVex
2 years ago
What a wonderful idea. Thanks for the suggestion. I will consider banning you if you continue to behave silly like this. Offering nothing worthwhile from your wisdom and yet feel happy in attacking others if they do, regardless of whether it is good or bad.

It is the effort that counts more than the actual material. So if you really wish to be banned, do let me and admin know. We will oblige. No problem.
+3 Reply
EmmyTrades HexVex
2 years ago
Stop calling names please.
+1 Reply
HexVex
2 years ago
What logic says long Euro for Christsakes! Do you not have internet and comprehend data?
-6 Reply
Nico.Muselle MOD HexVex
2 years ago
The logic of price retracements within a trend, the logic of people taking profit, ever heard about that ? This is not a counter trend trade, this is a small retracement within a trend. Seems you really have a lot to learn about trading ... maybe you should pay more attention to his charts so you can start making some money ;)
+3 Reply
JasperForex PRO Nico.Muselle
2 years ago
Exactly. This trade did not turn out to be a winner. Too bad, there are no guarantees in trading. With proper risk management this will not kill you. For this same pair, a recent long trade based on harmonic patterns worked out fine for full profit.
EURJPY: Consolidation Mode
+1 Reply
HexVex
2 years ago
An eskimo with a transistor radio would have figured this out last week
-5 Reply
DanV MOD HexVex
2 years ago
And Eskimo would have better sense than your good self not to be attacking folks. Just in case you are worried, I am sure it will not result in the author taking money from your pocket. So cool it.

Otherwise the idea is not pushed up your nose so why all this? Think you might have some serious mental issues or anger against your own failing and now choosing to take it out on these folks.

So please ignore his work if it bothers you that much. That is not difficult to do now is it?
+5 Reply
HexVex
2 years ago
I cant cool it man!! You need an editorial team to decide what trades are minted. You can't publish euro longs at a time like this.Can you??? You can't call the top on the S&P or DAX or DXY a100 times a month and still not get it right! Going against secular trends, fundamentals just for kicks?! It's totally unacceptable! But hey... I am the heretic!? You gamble with bats and butterflies while I'm a raving like a blackman about to be tazered.
-5 Reply
JasperForex PRO HexVex
2 years ago
Lol. Who are you to decide which publication is acceptable and which is not? What are you, a nazi censor? Like to take the red pen to other authors publications? Maybe burn some books you don't agree with while you are at it? Just focus on your own contributions and don't worry so much about what others do. Constructive feedback is welcome, but this ranting just shows a high level of personal frustration and is helpful to nobody and in the least to yourself.
+2 Reply
kris.deswerdt HexVex
2 years ago
Euro can't go up, right? Look at the XA-leg, that is a rally of some 400 pips (not counting the lows to the left), pocket change for some I am sure, but I'll take it any time.
It is not like the author is predicting a full blown reversal here or predicting anything at all for that matter, just trying to cash in some pips, both up and down.
+1 Reply
JasperForex PRO kris.deswerdt
2 years ago
Thank you Kris for the kind response and for understanding the essence of this trade idea, even though it was not a winner. Indeed, after the low that was printed following the QE announcement on January 22nd, this pair went up no less than 650 pips. It then started trading sideways for about two weeks and when it became bearish again it still made retracements along the way, even after this idea was published.
+1 Reply
Nico.Muselle MOD HexVex
2 years ago
Squeeze, maybe you are to narrow minded to understand that for a market to move or even exist there need to be buyers and sellers. This implicates that there need to be people with opposite ideas of where the market is heading in order for you to be able to even place a trade. Apart from that, you nor I or anyone else on tradingview has the power or the money to move the market in any direction. We totally depend on the big trades to move money in any direction.

Unless you can tap in to the mind of these market makers, the author's idea is as good as yours. Now I strongly suggest that you keep your poor language to yourself because to me it's just an expression of your frustration that not everybody thinks like you. You should actually be happy that there are ideas that oppose yours, this way you have the possibility to enter an opposing trade and maybe win some money. So be smart, shut up and do your own thing, OK ?
+3 Reply
JasperForex PRO Nico.Muselle
2 years ago
Thanks Nico. Tradingview is a place for beginners, intermediates and advanced traders and chartists. We all have a right to be here, to grow, to learn, to get better, to share our ideas and help others progress. And we should all feel comfortable doing just that, without being afraid to be wrong and regardless of whether a trade ended up being a winner or a loser. Squeeze may jump up and down and scream insults all he wants, I will not be bullied into silence by some blowhard who thinks he rules the world because he managed to squeeze a few pips from the market.
+1 Reply
HexVex
2 years ago
I don't care for your views. The less bullshit noise the better Dan. Where are the precise traders who were here only 6 months ago... Who cares. You just wanna sell your website!
-6 Reply
DanV MOD HexVex
2 years ago
Hey, then why all this spitefulness. If everyone agreed to your view there would be no trade or traders. You have difficulties in accepting to understanding that.

There is nothing wrong with the idea published. There are no guarantees offered. Also at decision point, the author or any other traders would see if the trade is valid and risk reward acceptable.

In fact even if EUR could go to negative 1 or even negative 100, in its travel there will likely be noticeable retracements which is what some might wish to trade, Why are you so against that. Unless you consider there is no room of even 1 Pip retracement.

So stop barking like mad or insane dog having nothing else to do.

Any way hope this is the last of these nonsense exchanges about frivolous things. Wish you all the best.
+2 Reply
HexVex
2 years ago
No! Your chart and its timing is perfect evidence that you are marketing wannabes not traders. Look at it again without crying if you can! :P
-3 Reply
JasperForex PRO HexVex
2 years ago
Lol marketing of what? I don't even have a website and I have nothing to sell. Just trying to participate in this trading community because I want to learn and share ideas and bullies like you cannot stop me.
+2 Reply
DanV MOD HexVex
2 years ago
You are bitter soul.

If you continue like this remarks will be removed as spam and I will take you up on your offer of being banned.
+2 Reply
HexVex
2 years ago
You are a dim witted fool aren't you Danny boy. If you want me to cool it you can PM me and be nice since you're the big boy in these parts. But you hate me for my insolence. It's just a matter of time before one of us outlives the other :)
-7 Reply
DanV MOD HexVex
2 years ago
Not necessary. I will let you rest. Will ban you for spamming and needlessly causing confrontation. Hopefully it will allow you time to review and become better readjusted. Thank you.
+4 Reply
jangseohee
2 years ago
megaphone bottom maybe
just my wild guess
snapshot
+1 Reply
JasperForex PRO jangseohee
2 years ago
Thank you for responding. The megaphone, is that similar to the expanding triangle pattern? I know of this pattern, but its not in my playbook.
+1 Reply
jangseohee JasperForex
2 years ago
just sharing, no need for you to adopt :-)
+1 Reply
Some People are just not worth talking to :)
Just a sad mad person, having a losing streak and needing a place to unload :-D

Good Analysis Jasper, im with you in this way up. Looks good.
Chart of me coming aswell.
Lets see what i got.
+1 Reply
aceofswords Fib.The.Gentleman
2 years ago
Clearly he is an attention seeker, with very low self esteem and "daddy issues"
+2 Reply
JasperForex PRO aceofswords
2 years ago
Lol @ "daddy issues". Thanks Ace!
+2 Reply
EmmyTrades aceofswords
2 years ago
Haha yes
+1 Reply
JasperForex PRO Fib.The.Gentleman
2 years ago
Yes, I guess so. Thanks for responding Fibb! I always like seeing your contributions and charts.
Reply
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