FX:GBPJPY   British Pound/Japanese Yen
Hey, traders. Took this Gartley in anticipation of the downtrend to continue. Risk to reward is 1 to 5. Good, isn't it?
Click like, follow and drop some comments. Check my other ideas.
This pattern was found with Pattern Search Software (c)
Watch the sample video here: https://youtu.be/iPgtlZWzHQ8
Contact me in PM if you wish to get your copy
Best regards, Alexander Nikitin.
Fulltime professional trader and programmer.
MarlyForex
8 months ago
Was planning for a similar idea. looks great!
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iammathawee
8 months ago
Already have short position. Hope thing goes like this
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Alexander_Nikitin TOP iammathawee
8 months ago
Nice. Good luck.
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SaeedRehman
8 months ago
I Alexander. Nice find.. I Thought the gartley needs to have 618 retracement on the AB leg. Could you clarify please
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Alexander_Nikitin TOP SaeedRehman
8 months ago
Yeah, you talk about Tradeempowered rules. You are right in this part. But I don't trade them. My gartley is closer to the original Gartley. Gartley himself didn't apply any ratios to his pattern but told about "one third" and "two thirds" retracemens. That correspond to 0,382 and 0,618. You can find the ratios I use in "Trade what you see" book by Larry Pasavento. He is considered to be the first one who applied fibonacci ratios to W-type or M-type patterns.
Also I use Gartley only as a technique for entry. My analisys is a trend identification. You will never find me trading counter trend or consolidation periods.
That's why my ratios are not that very specific. B point is 38,2- not touch 78,6. C point is 38,2 - not exceed A point. D point is 78,6. That's it. No bats, no sharks, no crabs, nothing else. Only this pattern which I call gartley.
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SaeedRehman Alexander_Nikitin
8 months ago
Thanks for the explanation. It looks like the price is going in your direction
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Alexander_Nikitin TOP SaeedRehman
8 months ago
Watch this video to have better understanding of my strategy. https://youtu.be/xTMx9qivc50
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SaeedRehman Alexander_Nikitin
8 months ago
I will check the video out on my lunch break. And there was me thinking your patterns are bats - just like your avatar.
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Alexander_Nikitin TOP SaeedRehman
8 months ago
Yeah, when I was young I traded only bats))
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DUAL77
8 months ago
That doted line at 163,684 is that structure or entry level?
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Alexander_Nikitin TOP DUAL77
8 months ago
That doted line is the price itself
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SwissPips PRO
8 months ago
Great setup !
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Alexander_Nikitin TOP SwissPips
8 months ago
Yeap, thank you)
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farid_ardavani
8 months ago
im disagree on this one.
GBPJPY long setup, its going for next impulse
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