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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thank you
+1 Reply
Akil_Stokes PRO hungarch547
You're welcome
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I have an overall opinion of a NZDUSD setup
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JFXtrader JFXtrader
snapshot
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Nice!
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JFXtrader Akil_Stokes
snapshot
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JFXtrader JFXtrader
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A little update here with a wave count as price moves into the upper trend line.
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that's a really nice setup... sad I missed it!
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Akil_Stokes PRO dionvuletich
There will always be more, even this one may come down once again
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Catched this one, enjoying the ride thus far. :)
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Nice, hopefully it'll go in our favor
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timmynorin Akil_Stokes
And so it did, painless trade. Even slept through it (Swedish clock) See you next time
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Those are the best kinds
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I got the same pattern but i was able to fill an order of 0.6655 after Fed, I put a long order 10 pips over the point where the pattern completed. Taking the point X in the low of 0.6585 give you a nicer pattern
Perfect gartley pattern completion on nzdusd
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Akil_Stokes PRO cperezmontilla
Just curious, what makes the pattern "nicer" pattern?
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cperezmontilla Akil_Stokes
The retracements of this pattern are more near to the Fibonacci numbers: 0.618 and 0.786. Also the fib expansion 1.27 match exactly. Although both pattern are valid as gartley patterns.
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cperezmontilla cperezmontilla
The most important difference is that X point is lower so if you put the stop just below X where the pattern would be cancel, it would be a lower stop in my pattern.
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Akil_Stokes PRO cperezmontilla
Thanks
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looks great
NZDUSD break above and close above
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good idea
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There is also a very nice bullish Butterfly pattern beginning at the B leg of the Gartley. It also completed exactly at the support level, I took that one :)
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Well done
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Akil to be honest i have changed my game plan after hearing your daily video review and also attending the syndicate webinars and listening to your goals and principals man it changed me a lot i have made 150 pips for last couple of days and following a strict game plan and treating Forex as an business where i see lots of differences in my trading style . Thank you once my man see you in the syndicate today ........
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Akil_Stokes PRO sumathidenward
that's awesome to hear!
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as usual Good Call Akil
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Thanks
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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
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Thank you for this call and nice setup Akil
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Akil_Stokes PRO pyramids_Forex
No problem
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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
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yossi.ramot Akil_Stokes
Thx!
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