Akil_Stokes
Short

NZDUSD: Potential Bearish Gartley on the 4hr

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
We currenty have an AT MARKET bearish Cypher pattern on the hourly timeframe, but if that pattern gets busted...or hits targets and rolls up (which would be my preference) we have a very deep bearish Gartley setting up here on the 4hr chart. Whether you use an ATR, 113, or 10-20pip stop loss the risk reward should still be fantastic since the completion is so close to X.

See you guys in the workshop! Remember we have guest speak BJ Nash coming in today to work with you on trading psychology . Giving me time to actually do some trading ;-)

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nice share guru thanks and can't wait for cypher explaination, it's great to trade pattern this month since market tend to consolidation rather than trending
+2 Reply
Yeah I've missed a killing this week teaching the workshop, hopefully you guys have some for me and don't hog all of the profits.
+2 Reply
shouldn't AB leg be a 0.618 retracement of xA??
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Akil_Stokes PRO michalis.sideris.9
Correct, for a gartley pattern the 61.8 must be achieved.
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sir, im still confuse, where is the entry point for gartley, the 78.6 of leg XA?. or the 127-161.8 of leg BC?.. tnx for the reply..
+1 Reply
Akil_Stokes PRO thomastsibayan
It's the 1.272 for me
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Weird, the B retracement of X-A on my MT4 platform runs up into the 78.6 triggering a butterfly, if the pattern completes the 127 extension should complete at above structure at around 0.778.
I have noticed on other occasions that trading view and MT4 seem to be off by a few pips.
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Rememeber that there is no single central market, so one brokers data will often be slightly different than the next brokers
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thanks for the shared idea, made me a few pips yesterday. 100 percent nzdusd trader ;). I never trade this pair but That doji made me greedy ;)
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If breaks above 0.76, is it not a bull signal because of the triangle pattern ?
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We have to go bullish in order for the pattern to complete
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Also a possible butterfly pattern if it decides to go the other way, but first will need to push up through 7708ish resistance and into a 127 completion.
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