USDCAD: Daily Gartley Pattern

FX:USDCAD   U.S. Dollar / Canadian Dollar
USDCAD             VIDEO (https://www.youtube.com/watch?v=AGXymWfe-XM) Obviously I'll be playing the sidelines today due to the Non-Farm release, but for you longer term traders, we've broken past our B leg which means it's time to pay attention to the bearish Gartley .

This particular pattern comes in at a very nice level of structure (looking left) where price consolidated in the past before a markdown. This doesn't mean that the level will hold again, we never know in trading, but it does show that the market has respected this level in the past, and as a pattern trader all you should be looking for is a brief pull back.

Good luck for anyone getting involved in this one.

Akil Stokes
Chief Currency Analyst at http://www.TradeEmpowered.com
Akil@Tradeempowered.com /@AkilStokesRTM /
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Hi Akil,

i've just watched the training for the 2618 trading system.
enjoyed it :D
Now my question for this chart/trade:

if the price hits 1.22745. should we wait to see a double top? and we have to wait until the price drops to below the higher low . then look at whether the 0618 is coming or not ? sorry for my bad english... :( lets explain it into a chart :P


+1 Reply
Yes that would be an example of a 2618 trade. Looks like your retracement is a little short maybe a 382 from what I see drawn on your chart but the concept is 100% correct
+2 Reply
IvanLabrie Akil_Stokes
In Elliott Wave terms, I think the double top might lead to dangerous situations.
What would be your target here?
Low retest Akil?
Akil_Stokes IvanLabrie
for a 2618 the initial target is a retest of the new structure low
IvanLabrie Akil_Stokes
I see, that'd be pretty high probability then.
+1 Reply
Akil_Stokes IvanLabrie
I wouldn't say high probability, but it's a decent opportunity if you can get the risk/reward to work.
+1 Reply
Tijmen_K Akil_Stokes
Okee Thanks for the explenation!
+1 Reply
No problem
+1 Reply
docwesley90 Akil_Stokes
Check this out...Looks like an ALT SHARK...

+1 Reply
i like the video man it makes me understand it a bit quicker and better! thanks :D
+1 Reply
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