Akil_Stokes
Long

NZDUSD: Bullish Gartley with TCT Outlook

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
This NZDUSD             trade is something that I've been keeping tabs on for the past few weeks. In fact by this point I think my Live Trading Room & Sydnicate members are probably sick of me mentioning it. But during yesterday's FOMC events price action finally pushed down into the area that I was willing to buy at. Although i didn't get filled on the initial push (due to FOMC trading rules) I did get filled over the London session & currently have a long position.

On the 4 hour chart this is simple an advanced pattern trade, but if you were to take a look out on the higher timeframes you'll see that this is also a trend continuation play as well with a lot of legroom to the bullish side.

I just finished recording my Weekend Review video & this week's topic was "Building A Rules Based Trading Strategy" (Link below). The video reminded me of this trade because although I use a simple example of a TCT trading strategy in the video, advanced patterns can also be used as reasons for entries as well.

I'm a big fan of combining the two, however you have to be very care of when to shoot for extended targets & when not to or else you may end up sabotaging your system by accident. let me know what you think of the video guys!

https://www.youtube.com/watch?v=G-DHLwMLL0w

Akil Stokes

Trade closed: target reached: Initial Target level hit. Well done gang!

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Hi Akil.
How did you know where to expect the C-D leg to end at? Shouldn't a Gartley patterns' D point end at the 0.786 retracement of the X-A leg?
And also regarding the B point, shouldn't it end at the 0.618 retracement of the X-A leg?
Just felt like asking because I thought advanced patterns should be quite accurate when drawn..
+1 Reply
Akil_Stokes PRO yossi.ramot
I use the 1.272 for my D completion, so it won't always line up with the 78.6
+1 Reply
yossi.ramot Akil_Stokes
Thx!
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Thank you for this call and nice setup Akil
+1 Reply
Akil_Stokes PRO pyramids_Forex
No problem
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pyramids_Forex pyramids_Forex
This is my modest idea
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pyramids_Forex pyramids_Forex

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pyramids_Forex pyramids_Forex
snapshot
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as usual Good Call Akil
+1 Reply
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