j_nathan

EURJPY Gartley Bullish study

OANDA:EURJPY   Euro / Japanese Yen

The recent EUR/JPY Bull trend appears to be changing structure.

- 117.240 must now be surpassed to further define that changing structure.

- 116.547 range will be our AB leg.

- 117.034 range could then become the BC leg.

-116.415 range is the CD leg then we resume upwards.

*these study's are flexible so updates will come as the day plays out, for now 117.240 is our goal
*this is not a recommendation to trade, I'm simply a student of the market and trying to spot this particular pattern today, the fib levels will be our teacher
Comment: Thanks to Tom Hall for a useful Gartley study guideline that can be seen here:


I adjusted two levels for a more appropriate BC and CD general placeholders

The actual measurements range but its good to know those general ranges when planing entry/exit points and stop, if AB plays out

Trade active:

sold short above my target last night to be safe
but limit buy filled @ 116.535 and we just made great progress to chase BC leg
Comment: jumped out up 40pips, sunday is too volatile and winnings are winnings
Trade active: very insteresting day indeed
todays movements just slammed this study into overdrive if the fib levels hold

see chart for notes
Comment:
Comment: for fun I wanted to share that I use multiple setups to confirm daily flips
this is quite rare indeed
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