TomHall
Long

EUR.NZD - Bullish Gartley Pattern

FX:EURNZD   Euro Fx/New Zealand Dollar
On the EUR.NZD 15min chart we have a potential long opportunity at the D leg completion of a Gartley Pattern

The price reversal zone on this pair is between 1.676 & 1.672
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.

Potential targets for the Gartley Pattern placed at the .382% and .618% retracement of the A to D move.
Stop loss would be placed below X leg structure support.

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DerekUweri71
10 months ago
Hi Tom, similar pattern appears to have developed on £nzd, I just posted an idea there. Regards, Derek.
+1 Reply
TomHall TOP DerekUweri71
10 months ago
Hi Derek,
Nice trade, the pattern is not valid for me personally but aslong as it fits your rules to trade.
Reply
DerekUweri71 TomHall
10 months ago
Thanks for taking a look. What do you see wrong with it?
Reply
TomHall TOP DerekUweri71
10 months ago
The C leg is above the A leg, for me personally this would make it in invalid bat pattern.
Reply
DerekUweri71 TomHall
10 months ago
Yes, I agree with you, it's not a BAT. It's more of a cypher.
Reply
TomHall TOP DerekUweri71
10 months ago
Again this is only my rule set but for a Cypher I look for a minimum of a 1.272 C leg extension.
Reply
DerekUweri71 TomHall
10 months ago
Again Tom, I agree. It might be a 1.13 C leg extension cypher. Lol!! Appreciate the comments. Price has done about 90 odd pips in the last couple of hours, the Range is crazy. I could say it's hit Target 1 - 382%. I'm curious to see how this one plays out.
+1 Reply
TomHall TOP DerekUweri71
10 months ago
Aslong as it fits your rules to trade that is all that matters.
Have a great day/week :-)
Reply
DerekUweri71 TomHall
10 months ago
Thanks Tom.
Reply
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