Quick post ahead of market open, I'm looking at EUR/USD on the 1h chart with a bearish gartley and bearish deep crab pattern.
The first formation we will need to assess in real-time upon completion is the bearish gartley, we need to determine if the reversal will take place @ 1.17800 or 1.18415.
I will be focusing on the 15m and 4h chart to back up my analysis and optimise entries.
As always I will keep you posted on the patterns progress and if the trade is executed! I'm still short on EUR/JPY.
You guys know how it goes... Like, comment and share ;) have a good week!
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Dropping down to the 15m chart it appears a bearish deep crab formation completed, price has now pushed beyond the extreme level to test 1.902.
Paying attention to the smaller structures to determine a reversal at this level, otherwise my main focus will be the deep crab pattern on the 1h chart for a reversal @ 1.18415.
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Reversal upon completion of the gartley pattern.
Pay attention to the 15m chart for entries at a higher price if not already in the trade.
R:R is not favourable at this level, we need to be patient.
i know im on the right side of learning and it feels so good,I see same exact thing!!! and i learned all from the internets,back testing,reading....cant afford a course...man im almost moved to tears because im finally getting it...THE STRUGGLE IS REAL LOL
LewisGlasgow
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@same24inc, CONGRATS!!! Keep pushing forward, you'll get to where you want to be and as I said before if you need any help just drop me a message.
bobbyontherocks
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I agree a short is coming at 1.18350 approx
LewisGlasgow
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@bobbyontherocks, keeping an eye on both areas, what are you seeing at 1.18350?
bobbyontherocks
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@LewisGlasgow, I would have to show it to you ..cant seem to post here ...but on a 4 hr seeing a signal to go short ...but it will rise to that point which I mentioned as the best point of entry...the 1st chart you posted here seems a lot more risk from my perspective
LewisGlasgow
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@bobbyontherocks, no worries, you can screenshot the chart on TV using the camera icon at the bottom right and post the link.
Good to see we're looking at the same area to short though!
bobbyontherocks
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@LewisGlasgow, The cam icon allows to take picts of TV charts..I use MT4 as my tool for analysis
LewisGlasgow
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@bobbyontherocks, ah gotcha :) just assumed the analysis was on TV charts.
bobbyontherocks
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@LewisGlasgow, I have developed my own indicators and find mt4 more versatile...on eu the immediate move is down support at 1.16721 or sooner...this point will have to see as market develops and then as it goes up 1.18351 would be a good point to short
ChrisdonHargrett
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@bobbyontherocks, when you guys say short. Do you mean short sell once it hits the 1.18350 - .18450 mark? Newbie here.