Akil_Stokes
Short

EURUSD: Another Potential Advanced Pattern Completion

FX:EURUSD   Euro Fx/U.S. Dollar
2 months ago
I usually say that I don't do too much charting on Monday's because the markets are usually slow. Well today the market is making me eat my words as I've already four Advanced Pattern Formations Complete along with numerous other potential opportunities under close watch.

This opportunity is a potential bearish Gartley Formation with a deep "D" completion due to the length of our "B" leg.

The circle drawn in at our "B" leg represents an example of My Favorite candlestick formation that I shared with traders this morning. (If you haven't seen the video it was posted about a month ago our Trade Empowered Youtube Page)
2 months ago
Comment: Potential Gartley formation has now been invalidated. Looking for Bearish Cypher instead
Akil Stokes -Head FOREX Trading Coach at Trade Empowered
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Kareem
2 months ago
Is this a good oppurtunity of trend continuation where the 618 could possibly be used as Target 1? Or would you still use the 382?
+1 Reply
Akil_Stokes TOP Kareem
2 months ago
I wouldn't be looking for anything extended on this one. I still see no overall direction on this pair. it's been all over the place
+1 Reply
Ian.Watts
2 months ago
your getting good at this trading game
+1 Reply
Akil_Stokes TOP Ian.Watts
2 months ago
It's almost like I've been doing this for a while isn't it
Reply
JeanConsole
2 months ago
Lot of patterns this morning, and this one is a very interesting opportunity.
snapshot
+1 Reply
Akil_Stokes TOP JeanConsole
2 months ago
Yeah we've certainly had our fair share of action to start the week. Hope it continues.
+2 Reply
TomPower Akil_Stokes
2 months ago
You've got to be kidding me these swings are killing me running stops all over the place. Volatility has ramped up and all you Pros are figuring it's great for trading not sure where you get this but us small fry are dying over here
+1 Reply
Akil_Stokes TOP TomPower
2 months ago
Hey Tom, we're all in the same boat here as "retail" traders so this movement affects us all the same way. In order to make money in trading you need opportunities and in order to get opportunities we need the markets to move. That's my reasoning behind liking movement vs. dead markets. Sorry to hear that you've been getting whipped around a little, just trust your plan and I'm sure that winning streak is right around the corner
Reply
Swerver
2 months ago
There is currently a Gartley in progress on the 1HR, albeit its a bigger pattern in the structure.
The emerging butterfly could be considered a type 2 trade on the Gartley, possibly good confirmation around the PRZ as it would be a double top of XAD for the Gartley.
We do have some form of consolidation on the chart, could be classed as a triangle maybe, but that would indicate a break below continuing trend.
If we do see this break up and complete the pattern, there some good probability there :)
The sell zone would come in at .786 of the current swing from last top on chart.

Thanks for sharing.



snapshot
+1 Reply
Akil_Stokes TOP Swerver
2 months ago
Thanks for the share
Reply
emmanuel.chisala
2 months ago
Why is invalidated? Is it because the C leg has touched the fib 88.6 and we cannot touch the 127 extension?
+1 Reply
Akil_Stokes TOP emmanuel.chisala
2 months ago
Due to the movement in price action the Gartley has now turned into a butterfly
Reply
emmanuel.chisala Akil_Stokes
2 months ago
Thank you Akil, it passed my eyes.
+1 Reply
Akil_Stokes TOP emmanuel.chisala
2 months ago
No problem, these situations are very difficult to recognize and it's actually a confusing point for many of the traders that I work with. Also because it's rare in my experience.
Reply
harising13 Akil_Stokes
2 months ago
Akil, thanks for the updates..Do you have the chart for the pitential butterfly fornation. Appreciate your help..
+1 Reply
Akil_Stokes TOP harising13
2 months ago
Hi, no i have not posted a a chart of the potential butterfly
Reply
harising13 Akil_Stokes
2 months ago
No issues..Thanks for your analysis.
+1 Reply
Akil_Stokes TOP harising13
2 months ago
You're welcome
Reply
Makolico
2 months ago
Hello Akil, Let’s say C leg was violated on 13/9/2016. Violated means the candle closed below C leg? Or there is another reason that invalidated the Potential Gartley formation?
+1 Reply
Akil_Stokes TOP Makolico
2 months ago
Because of the Deeper "C" the previous "B" must be adjusted and the adjusted "B" does not meet the rules for a gartley "B" leg.
Reply
Makolico Akil_Stokes
2 months ago
Thank you Akil.
+1 Reply
Akil_Stokes TOP Makolico
2 months ago
No worries
Reply
MindTrader
2 months ago
EURUSD
+1 Reply
Akil_Stokes TOP MindTrader
2 months ago
Thanks for sharing your idea
Reply
MindTrader Akil_Stokes
2 months ago
thanks akil bro, really appreciated.
+1 Reply
Akil_Stokes TOP MindTrader
2 months ago
No problem!!
Reply
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