FX:SPX500   S&P 500 index of US listed shares
7527 35 165
SPX500             BEARISH GARTLEY
Completed 2178.70

SL above X point
tp1 2151.6
tp2: 2135.0
Comment:
snapshot

TP1 HIT
TP2 still waiting.
Nice Trade, did u short?
Comment: TP2 HIT, now break trend line, heading to 2100
Comment:
snapshot
Comment: NOW IS 2098 BIG WINNER
Comment: NOW IS 2054, Can take some profit.
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What does it mean SP is down about pairs
+2 Reply
stop loss please?
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it's okey you setted ty
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Pip-Trader sanmed02
Already mentioned point X on the chart
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SL is indicated on the chart.
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Jack do you find these patterns by yourself or you have an indicator ? Thank You for the idea.
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nhlevi PRO ahmetnmsl
I may not be Jack, but I hope you don't mind. I'm always looking for potential X and A points. If there's a move with a retracement that could be the start of a pattern then I add it on my watchlist. Basically I try and catch a pattern early in it's forming. It may be that only one out of every 500 nominee qualifies as a valid pattern, but there are other ways to trade the fib levels too. BTW I mostly find AB=CD's, others are less frequent because of their complexity.
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awosem idea like every time
+1 Reply
you've applied retracements to determine the target on AD, they should be on CD
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Thank you Sir
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AS always, thanks for sharing, Jack.
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Thank u so much!
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Many thanks.
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Good one! First time seeing your setup - but I agree - we should be down to 2145 ESZ tomorrow and eventually to your target. Let us see. STOP 2182.50 ESZ.
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not really sure about it.your stop is where i'd go long.
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sure. 2195.
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tanner5 tntsunrise
get ready for a new high today
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whitebluff tntsunrise
Jack, do you think I should wait for SPY go to tp2 2135?
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Jack, do you also watch the usd index? If that index has confirmed the usd will go down a lot , will you still short this s p index?
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Different pattern, same outcome! =)
SPX500. Possible bearish butterfly
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perfect in everyway.
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Textbook results. Kudos!
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great one thank you master :)
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jack, update for the s&p please, we should hold it?
+2 Reply
tntsunrise TOP carlosdavilamal
YES
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I read somewhere that the Gartley pattern is the most reliable harmonic pattern. Is this true Jack?
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Yes, shorted got the first train ride, now re-entered for the next journey, Thank you Jack
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Hi, Jack . i realize 2135 is also my daily trendline support from the trendline started 2016/2/12. it indicates a big drop in near future but not sure if its this time. maybe one more up ? what do you think ?
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Jack can you update this opinion? will you edit position or keep holding this?
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no update means still holding, and now u can see it hits TP2.
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No i did not enter this trade, my loss. And to play safe i wont enter now even though you say its on its way 2100. I am trying to play things safer, lol.
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But well done Jack
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Is reversal coming any soon?
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ironmask leeeon
its going to be really good for anyone that shorted today for s&p. S&P already down 98 points
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leeeon ironmask
Yep, rally down incoming....We might see previous low around 1990
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