EURUSD: Potential Bullish Gartley Pattern w/ Great Risk v Reward

FX:EURUSD   Euro / U.S. Dollar
Not a lot on my radar this morning which is perfect seeing how Monday’s are typically days where I let the markets wake up after the weekend. One pair that I’ve been continuing to watch closely has been the EURUSD             which has provided a lot of opportunity over the past month or so.

The chart before you shows a potential bullish Gartley pattern completing extremely close to the “X” leg. As I shared with my Syndicate members in this morning’s trading video, this is a really good thing, because it puts us in a situation where we don’t have to risk as much and can potentially receive a greater reward if the trade goes in our direction.

I usually don’t take patterns too seriously until the “B” leg is broken so there may be a few bullish opportunities beforehand, but that’s something I won’t be interested in until tomorrow.
Good luck in the markets this week traders and as always, if you like this post PLEASE HIT the THUMBS UP button, and if you have any question, comments or would like to share your views on this pair don’t hesitate to type in below.

Akil Stokes
Chief Currency Analysis at Trade Empowered

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Hey Akil, did you enter any trade at all for this pair?
+1 Reply
I'm long on a day trade that I executed today, but the gartley pattern above has not yet completed. We're about 40pips away from the D point
just a question: this isnt a gartley is it? because the retracement of X-A has to be 618 and A to C has to be .886 and the X to D point has to be .786 right? then its a gartley? i've got a photo just to make my point clear.
+1 Reply
What you have is indeed a gartley as well, we just have slightly different rules
+1 Reply
Tijmen_K Akil_Stokes
your saying you dont stick so much to the pattern rules and looking more for structures?
+1 Reply
No, not saying that, just saying that the rules that I'm using for the Gartley pattern are different than the ones that you are using.
+1 Reply
EUR/USD is forming a "W" shape Gartley pattern on 8/4/2015

My apologies, Akil. I didn't mean to introduce any negative energy into your good work.
+1 Reply
Akil_Stokes EverythingForex
It;s fine, I didn't see it as being negative just some good old fashioned back and forth. As long as we don't get to name calling and taking personal attacks it's all good. Just don't talk about my mama! :-)
+3 Reply
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