Akil_Stokes
Long

EURUSD: Potential Bullish Gartley on the Hourly

FX:EURUSD   Euro Fx/U.S. Dollar
Potential Bullish Gartley pattern here on the EURUSD             1 hour chart completing at 1.1206. The recent consolidation on the Euro             has been good for pattern traders allowing us to profit on the Gartley/Cypher from earlier in the week, hopefully this Gartley can deliver us the same. (http://tradeempowered.com/inside-the-war-room-hangout/)

One thing about this particular pattern that you may want to keep an eye out for is the potential risk/reward. The safest place for a stop loss is going to be below the 1.1150’s level and because it’s not a deep “D” completion that may mean stretching your risk reward ratio past 1:1 if you want to be down there. That’s a personal decision obviously, but I do think it’s something to think about if taking this trade.

Akil Stokes
Chief Currency Analysis at Trade Empowered
Click here for 20+ hours of FREE Training
http://tradeempowered.com/learn-to-trade/

Click the link below to subscribe for more FOREX TRADING videos
https://www.youtube.com/channel/UCVveEks3MWZqOsvzTF_LGQg?sub_confirmation=1
Facebook: https://www.facebook.com/AkilStokesTrader
Twitter: https://twitter.com/AkilStokesRTM
Akil Stokes -Head FOREX Trading Coach at Trade Empowered
Check Out Our Free Training https://goo.gl/5e8Jcr
TradeEmpowered On Youtube https://goo.gl/IscNch
Akil Stokes on Youtube https://goo.gl/u5kDC3
"Plan Your Trade, Trade Your Plan"




amyazad
a year ago
Akil what is your target ?
+1 Reply
Akil_Stokes TOP amyazad
a year ago
Targets for advanced patterns are the 38.2 & 61.8 fibonacci retracement from A to D
Reply
amyazad Akil_Stokes
a year ago
Thanks Buddy.
Reply
amyazad Akil_Stokes
a year ago
Thanks Buddy.
Reply
JacquesBethel
a year ago
May i ask are you planning to go in at 1.12064 ?
+1 Reply
Akil_Stokes TOP JacquesBethel
a year ago
, i'll frontrun my entries by a few pips but yes I plan on entering the Gartley is if completes
Reply
i´m in this bad boy too, i feel there is a Support level down where i put my stop, i still makes the R:R not the best, and its not the super optimal stop as you say. But well we need to let the propabilitys play out i guess. Normally i don´t even trade Gartleys so i´m on half position size.
snapshot
+1 Reply
Akil_Stokes TOP ThomasJeff_DCM
a year ago
If you normally don't trade them Thomas I'd stay away. We know how important sticking to the plan is and what breaking our rules can do to our account.
+1 Reply
ThomasJeff_DCM PRO Akil_Stokes
a year ago
You are so right, and these wise words of yours have been in my mind all day if i should take off my order. I just found it last night when i went over the charts and thought it was at a semi decent area, so i put half position size. But i think i will follow your advice and take off the order. Thanks Trading Yoda =D You got me straight after a high winning streak day yesterday i got greedy.
+1 Reply
Akil_Stokes TOP ThomasJeff_DCM
a year ago
maybe you can find another reason for entry in that same area
+1 Reply
ThomasJeff_DCM PRO Akil_Stokes
a year ago
Well i found the pattern cause i was looking for a way to enter, it came down to make a DB bottom making the Support stronger, then it started to climb with a break above, close above and now it´s retracing down to hopefully the nearest horizontal support and the Gartley made an entry just under support so a small spike down would enter my trade and let it climb north.. And stop was around next horizontal support. That was my thought process. But i took my order off and will look from the side line as a learning experince. The reason i did not trade Gartleys in the first place was i did not find them complete a very high amount of time compared to the R:R they give. Thanks for your comments it means a lot you give time to spill out your thoughts about my setup
+1 Reply
EGEfx
a year ago
thanks a lot Akil! I remember last month you said that you were very bullish on this pair, after some tricky movements the pair left ground and hit 1.17 target!! do you see bullish wiggles or bears are heavier in current situation? Harmonies of your superior geometry and reading price action are very helpful for most of people. thanks again...
+1 Reply
Akil_Stokes TOP EGEfx
a year ago
It all depends on what timeframe we're talking about. Our most recent move was a break of resistance a few weeks ago which still has us being bullish, but if we were to look from look from a higher timeframe like the weekly for example, I still think that long term we're very bearish
+1 Reply
I'm also looking long on this pair. Especially after we have seen the NSH above the last downward impulse's initial point. Violating the impulse range makes the last structure low (you circled it) to be a false breakout. In these cases I simply buy the golden mean of the move from the last structure low to the new structure high. Think my entry will be a bit lower but still it won't be lower than the higher low you marked as X.
Reply
Alexander_Nikitin TOP Alexander_Nikitin
a year ago
Just re-checked the ratios, my entry will be higher))
+1 Reply
Akil_Stokes TOP Alexander_Nikitin
a year ago
Nice!
Reply
Hi Akil, there is also a bullish Bat as per picture below. I am currently riding it down to the D point, not because I like C-D but because I had a rejection at point C combined with rolling of MACD, RSI and a lot of energy to discharge. It is my experience that often when two or more patterns appear, the farther away is the one tested, which in this case also corresponds to a major support structure on the H4 (see blue band on the left)

snapshot
+1 Reply
Akil_Stokes TOP lpernetta
a year ago
Nice, If my eyes picked out the bat I would certainly choose that over the gartley as well as the risk reward is a lot better.
+1 Reply
Alexander_Nikitin TOP Akil_Stokes
a year ago
Yeah, risk reward. But still, I dislike taking patterns with anchor leg XA. I like them be impulse legs. I think cyphers enormous success rate is somehow connected with the fact that it's bc is always an impulse (I mean it always exceeds xa giving us the four points of trend identification), There's no chance for as but to trade trend continuation with cyphers. I treat other patterns alike. Just take only trend continuation patterns. Trading all the patterns is rather aggressive for me because I will have more both losers and winners))
+1 Reply
Akil_Stokes TOP Alexander_Nikitin
a year ago
However, we must remember that with cyphers the "D" completion comes after a break (and most of the time close) beyond the "B" leg which in itself violates the previous outside return
+1 Reply
Alexander_Nikitin TOP Akil_Stokes
a year ago
And we either profit a correction after the breakout or (in case of false breakout) we profit a trend continuation))
+1 Reply
Akil_Stokes TOP Alexander_Nikitin
a year ago
True, that type of situation with the Cypher reminds me of the psychology behind patterns like sharks, crabs and butterflies. I'll never trade those, but it's said to be catching the market while it's over extended. So what you said makes sense, looking at the underlying trend of that X-A-B-C move then playing the slight overextension coming back below structure to the 78.6
+1 Reply
Alexander_Nikitin TOP Akil_Stokes
a year ago
As for cyphers. This ones looks pretty good. Although it may be better seen on M15...
snapshot
Reply
Akil_Stokes TOP Alexander_Nikitin
a year ago
I don't have any stats to back it up, but I'm with you on the "impulse" leg or "anchor" leg for patterns. I think having that clear break really sets the tone for what's to come
+1 Reply
Alexander_Nikitin TOP Akil_Stokes
a year ago
To tell the truth, I never trade the patterns which wasn't picked up with my own eyes. I've done lots of testing on patterns and they (my eyes) are trained to perceive the best opportunities. If my eyes didn't catch the pattern it means that it was not the best for me. Trade what you see but not what others see))
+3 Reply
Akil_Stokes TOP Alexander_Nikitin
a year ago
Amen, as you may know we have a pattern recognition software called constellation. Even though it's the best that I've seen at matching the human eye, I consistently tell traders that I'll always go with what I see over the software as well. If we're going to live or die in this trading game, it better be on our own terms
+3 Reply
IvanLabrie TOP Akil_Stokes
a year ago
Indeed, but it's good to have something that spits alerts too.
+1 Reply
IvanLabrie TOP IvanLabrie
a year ago
Either that or we reduce the portfolio to less pairs/instruments and focus more on each one. :) (I did this recently)
+1 Reply
Akil_Stokes TOP IvanLabrie
a year ago
And as soon as we finish the automated version of it, you can run a completely separate portfolio in the background. kill 2 birds with 1 stone
+1 Reply
Alexander_Nikitin TOP Akil_Stokes
a year ago
Here we say, kill two rabbits with one shot))
+1 Reply
Akil_Stokes TOP IvanLabrie
a year ago
Agreed, I was against it at first, but it's shaved minutes off of my daily analysis time which is much needed seeing how sleep is far in and between these days. It'll often catch patterns that I just flat out miss. I'll still go with my own eyes, but it's a very helpful tool indeed!
+1 Reply
IvanLabrie TOP Akil_Stokes
a year ago
Cool stuff.
+1 Reply
Alexander_Nikitin TOP Akil_Stokes
a year ago
true, it is only a tool. it should not replace the trader itself))
+1 Reply
No_more_Post
a year ago
You prepare to long right?may be not yet.
+1 Reply
Akil_Stokes TOP No_more_Post
a year ago
nope not yet, came within 10pips before the news hit. By the way, I noticed that you didn't answer any of the questions that I asked you. Do you have some type of personal beef with me for some reason? If so i'd love to clear things up. I'm just confused at why you feel the need to post only negative comments. Please shoot me a message if you'd like and we can discuss
Reply
skymtrader Akil_Stokes
a year ago
Noble! Stay the course Brother...
+1 Reply
Akil_Stokes TOP skymtrader
a year ago
Well said, i need those reminders sometimes. Why waste energy right
Reply
riskmode TOP Akil_Stokes
a year ago
I'm sure he would just like some proof that you actually make money trading these patterns using these methods. Just look at the 3 patterns you have drawn in this post. The cypher would have hit target 1 and then got the rest knocked out at break even. The other 2 patterns blew through X. Anyone who traded these 3 patterns using your methods would have lost money.

You have posted 7 pattern trades that filled since you last had one that hit target 2. Six of them blew right through X and the other one only hit target 1. I know if I look deeper in to your past charts I would see more of the same. If the probability of hitting the 61.8 retracement after hitting point D is less than 15% and the probability of hitting the 38.2 retracement after hitting point D is less than 30% it is mathematically impossible to have a positive expectation in the long run. Everyone loves to chalk up poor results to variance, but that excuse only goes so far. CassowaryCapital and many others would just like some kind of proof that this is a way to actually make money and not just lose it.
+1 Reply
ThomasJeff_DCM PRO riskmode
a year ago
You have to remember many of us only share a small part of what we actually trade! I know Akil and that i only share a very small part of what he trads. He actually got a like room to prove it where he trades live 3 hours a day doing very good! So because someone post some charts it don´t mean its everything they trade cause its so time consuming to post analysis so most of us don´t have time to do it for every single trade we take. But only share a few here and there to showcase how the setups are.

So the last 6 trades.. Somwtimes i got 6-8 loosing trades but then i have 10-13 winning trades in a row too. So you cannot judge one out of a handfull of trades. After 50 trades or 100 maybe. so be realistic about what you are talking about, this is not a paid service so you can not complain about what other people post. I trade harmonic patterns only 2 of the patterns but i just hit the 59% mark today in 4½ month. So it can be very profitable but you need to learn first!
+1 Reply
riskmode TOP ThomasJeff_DCM
a year ago
That sounds nice and everything, but there are some holes in what you're saying. Theoretically you would think one would only post their "above average" ideas at least. Posting below average ideas would just make one's business look bad and fraudulent. Also, these are all long term patterns 60m and higher. Long term patterns are supposed to be more reliable than a 5m or 1m patterns. Yeah I only scrolled back until I found the first filled trade that hit the 61.8 retracement. That took 7 trades. I can scroll back farther and I see more of the same. The 15% number holds true. There is no stretch of 10-13 winners in a row. Nothing remotely close to that.
Reply
ThomasJeff_DCM PRO riskmode
a year ago
Send me your email i can send you a broker statement if its so important for you. The last 2 weeks i had 10 winners ans 3 loosers, its a 70% strike rate, I don´t use target 2 at the moment the market is so volatile so i am speaking of trades that hit target 1 and closet out completly. And about your good or bad trades you won´t know before the move happens right. Its an odds game you should know that if you are a real profitble trader.. My Cypher patterns are 60-70% win ration to target 1. and Bat patterns are around 50-60% but their R:R is double as high as the Cypher.

Pattern trades are mecanical setups so a setup is a setup, ofcourse there can be factors like support resistance, structure and RSI conditions that can make it a good or less good setup but over all it don´t make a big difference cause they often appear in choppy market conditions. I hate forums cause of the discussing behind the screen to screen. I gave you my opinion from a trader that actually learned to trade from Akil so maybe you should educate about the subject and then come back in stead of comment on something you don´t like in stead of just look at something that fits your trading methods.

Kind Regards
Thomas Jeff
Reply
riskmode TOP ThomasJeff_DCM
a year ago
I love how you just blindly accuse me of being uneducated. The fact that I question something that is very questionable based on the data in front of us makes me uneducated? The fact that you chose not to question it makes you seem uneducated. I've probably been trading longer than you anyway. I'm looking at the data from Akil's clearly defined pattern trades. Target 1 does not get hit anywhere near >50% of the time. Those are numbers Akil, Jason, and Scott pull out of their behind's. Look back at Akil's own trades. They do not hit target 1 that often. I am not making this up. It's right out in the open for everyone to see. The only thing that is not out in the open is whether or not Akil and Jason actually make money from TRADING and not just from teaching fees. Based upon what we can see their money must come solely from teaching fees.
+2 Reply
Akil_Stokes TOP riskmode
a year ago
Riskmode, please keep in mind that I only share a single idea a day hear on tradingview and I try to stick to the EURUSD because that's what was most requested. My portfolio consist of 10 other pairs that I trade on a consistent basis so to make statistical assumptions off of what you see on here won't be accurate. If you want proof that these patterns do work, I recommend either backtesting them yourself and taking a look at the results or checking out our Syndicate program where Jason and I have shared EVERY trade that we've taken throughout the entire year. It's a $1 for the first month and you can cancel at anytime. Educators often get accused of teaching because people assume that they can't trade. That's why we have programs like this, so traders that have doubt at can everything that we do, when we do it and judge for themselves instead of making assumptions. If you're interested let me know and I'll shoot you a link, but I think it's important to read the entire book before coming to a conclusion of whether you like it or not. Am i being fair here?
+1 Reply
No_more_Post riskmode
a year ago
I have been trading for almost 10 Years.
I knew many Successful traders,
I knew many fund managers,
There are many kind of traders I knew,
1.The traders who just trade and never post anything in social, They are very very successful in trading career.
2.The traders who are a fund manager and always post video, charts, live trading, free trading course, free trading camp, all FREE 100% FREE, and They are very very successful in a trading career.
3.The traders who sell the Books, courses, signals, always always public on SOCIAL, always promote in every way , They are very very successful also, but not a trading, almost income from the other way not from a trading.
4.The traders who is very very successful in trading , and just share their knowledge by writing some books,


I understand that There are many ways to make money in trading career.
but at least sharing and posting the quality one not stick on the most request, that is the business not a sharing .
There are many success trades from 10 others pairs , please share it.
Thanks,
I will stop using trading view permanent.

^^
for 2 years , I have used it, made me see anything so weird in tradingview.

I have too much free time for social.
Cassowary
+2 Reply
Akil_Stokes TOP ThomasJeff_DCM
a year ago
Easy man, no need to send out broker statements to strangers. That's asking for trouble. There's no need for you to prove to anybody that you're a good trader. At the end of the day you're growing you account and that's all that really matters. I'm like you meaning I take pride in how I trade, but at the end of the day they don't know how you trade, they only make assumptions from what you post so it's really hard to convince them unless they've traded along side with you and see how you actually handle yourself day in and day out in the markets. I appreciate you having my back but in these types of situations breakeven is the best that we can hope for.
+2 Reply
Neel_K PRO riskmode
a year ago
Riskmode ...And your point is ?

A- Don't trade patterns?
B- Don't follow other's who trade patterns?
C- Don't Like what Akil's posts?
D- Seeking more Data on Pattern trading?
E- Looking how to buid it into your own trading plan?
F -Learn pattern trading ?
G- Perform Critical Analysis of the post ( or all posts on patterns) ?
E - AOB?
+2 Reply
Akil_Stokes TOP Neel_K
a year ago
I've never understood why people bash strategies Neel. there's a simple solution...just don't trade that way, and just stop following people that trade that way. I'm not a fan of Elliot waves, therefore I just don't click on any posts that talk about Elliot waves. Why waste time and energy telling a trader whom I don't know that they're wrong because I don't agree with it. I've got to assume that they've done all of the work needed to make it profitable for them and if it's not then that suck for them to be trading something that loses money.
+4 Reply
IvanLabrie TOP Akil_Stokes
a year ago
People have a desire to be right, and to brag, or prove themselves...this has nothing to do with trading, and it's not a productive mindset. We have to be logical and flexible to change as the market tells us to.
Keep on keeping on Akil.
We have a great trading week ahead.
+2 Reply
Akil_Stokes TOP IvanLabrie
a year ago
Thanks, we had a good one last week but haven't been able to string a positive streak together since the summer started. Hopefully we can get that done. Wishing you an awesome week as well.
+2 Reply
silver0sk8
a year ago
See the large drop this morning, THAT is why i cannot seem to trade adv patterns on EURUSD. lately there seems to be too much erratic movements like this that has caused me to temporarily stop analyzing this pair.
+3 Reply
Akil_Stokes TOP silver0sk8
a year ago
I agree, this has been a very erratic pair over the past few weeks. Not good for pattern traders
Reply
IvanLabrie TOP Akil_Stokes
a year ago
I've had my fair share of losses...this behavior is typical of a bottoming phase, it's ugly.
Good thing is, once we get stopped enough, we can tell the market isn't trending anymore and we can change strategies to trading the range extremes using momentum/bollinger bands/patterns near oversold extremes, etc.
+3 Reply
magforexdotbiz
a year ago
lost 110 pips on this pattern today. but anyway, the other pattern succeeded so not a big deal.
+2 Reply
ThomasJeff_DCM PRO magforexdotbiz
a year ago
Next time when price is half way to traget 1. I would start to move my stop towards break even.
Reply
leszekstanislaw PRO ThomasJeff_DCM
a year ago
Statistically I am better not moving stops to BE - not a good idea. So my trading plan tells move SL to BE when profit is twice like initial SL. Then and only then.
+1 Reply
ThomasJeff_DCM PRO leszekstanislaw
a year ago
You should always backtest and build a trade plan around what you find the most profitable during your method devolopment.
+1 Reply
ThomasJeff_DCM PRO magforexdotbiz
a year ago
How could you loose 110 Pips? Stop was 15-20 pips away? You trade with no stops??
Reply
magforexdotbiz ThomasJeff_DCM
a year ago
unfortunately, yes. It was a mistake not to put stops.
Reply
TradeVulture
a year ago
Ouch...to all the longs. My short was nice tho! Should pay attention to the legs on the higher time frames. These shapes say nothing about the legs.
Reply
noels
a year ago
DOWN......
Reply
Time and time again, some people just have too much free time on their hands. How does that saying go? "Idle hands are the devil's fan?" Or something like that. Look, if you DON'T like trading advanced patterns, then like Akiil or somebody else said, DON'T FOLLOW threads that talk about advanced patterns! SIMPLE! Trading for 10 years? Dude, I've been trading before you even ever saw a chart! I've been trading before there were e-charts and I had to plot prices on graph paper by looking at EOD data from the newspapers and call into my broker to place trades! So if you want to use your experience as a way to justify your position, you've got NOTHING on me!

If you have ever read my posts, you would know that I use advanced patterns extensively and they are integral to my trading system. You want to knit pick on winning trades using advanced patterns? I recently posted a summary of my DOCUMENTED trades here on Tradingview on the USDJPY pair that is a pair that I closely follow in which the past 1+ months, I've posted winning trade after winning trade to the tune of over +2200 pips! And advanced patterns were all involved in those trades, dude! Yes, my strategy does not ONLY use advanced patterns but they work! I haven't done a summary of the EURUSD pair but I can tell you off the top of my head that my POSTED trades in this pair also have made hundreds if not thousands of pips. DOCUMENTED trades. Sure, there are losers in there but my losing trades usually lose under 100 pips and most times...much less than that! While my winning trades regularly bring in hundreds of pips per trade. So I don't know what is your beef with advanced patterns or Akil for that matter but you just gotta either CHILL with your criticisms or just find something else to occupy your time! I look at your posts and I can see that you use a breakout strategy. I can criticize that all the live long day. But why waste my time on such banality? I've got so much better things to do like plotting my next winning advanced pattern trade!

Yes, like Akil and many others here, I only post a portion of my actual trades. Why? 1. I don't have so much time on my hands to be able to post and follow up properly if I were to post all my trades. 2. Although I don't run a teaching academy like Akil, I also have private clients who pay me for my analysis and they would not be so happy to see me posting trades for free that they pay for! But I can assure you that they make PLENTY OF MONEY from my analysis. Look at my posts and you'll see that I put A LOT OF TIME and effort into them.

So either just remove any poster who even draws an advanced pattern or mentions a bat or else, do what you said and keep your word....just remove yourself from tradingview altogether. Negativity like yours we can all do without! Peace!
+12 Reply
Rocketman PRO EverythingForex
2 months ago
Subscribers to a $200 service on his demo account, yeah.
Reply
dangap
a year ago
Thanks Akil for all your efforts, really appreciate it.
+2 Reply
Akil_Stokes TOP dangap
a year ago
No problem man. Thanks for always being supportive. People like you make some of the others easier to deal with
+4 Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out