Akil_Stokes
Short

usdchf daily - potential bearish gartley pattern

FX:USDCHF   U.S. Dollar / Swiss Franc
After a very active day yesterday the markets were a bit slow for me today. Maybe it was the amount of people watching Mexico blow their group lead to Sweden, only to be saved by S. Korea defeating Germany. Talk about upsets! Anyway, as we ventured off to look at a few pairs outside of my portfolio in the live room this morning, I came across this opportunity on the USDCHF

What we have here is a potential bearish Gartley pattern setting up with a deeper than usual projected "D" completion point. Due to the projected completion point being closer to the "X" leg you would be offered a much smaller risk than usual.

June as been an interesting month for me. I've had a flood of trades at the beginning, followed by a few weeks of nothing, only to follow that up with another flood over the past week or so. It'll be interesting to see if the month was profitable or not once i crunch the numbers this weekend.

Anyway, time to watch some more World cup. Who do you have as the favorites? I said Mexico before this mornings match, but I'd have to say Croatia looks to be the most solid.

Akil
FREE Workshops & Webinars
https://tieronetrading.com/free/

FREE Weekly Youtube videos
YouTube https://www.youtube.com/akilstokes

THE TRADING COACH PODCAST
https://anchor.fm/thetradingcoachpodcast

Articles
https://medium.com/@AkilStokesRTM

Comments

im all Belgium.
found Gartley pattern here too.
+2 Reply
Akil_Stokes anesuchirima
@anesuchirima, Nice!!
Reply
Belgium looks convincing although I agree Croatia as well. Btw nice find with this pattern! Cheers, Pat
+1 Reply
@PHL, Thanks, I really want to go with Belgium, but I just can't trust them yet, seeing who've they faced in the group stages so far. I'd like to see them get a true test first. But they've certainly got the fire power
+1 Reply
I'd say the B retrace is too deep to classify as gartley, which also makes D retrace too far from 0.786
+1 Reply
Akil_Stokes purpurato59
@purpurato59, If the opportunity doesn't meet your rules, then it's best to stay out. Although i don't trade this pair, it does fit all of my rules for a valid gartley pattern
Reply
what's your TP please ?
+1 Reply
Akil_Stokes JJSC-2018
@JJSC-2018, On gartley patterns I will look for the 38.2 and 61.8 fibonacci retracement levels for targets
Reply
Portugal, coach! Nice to see you back Akil. Remeber, Portugal ...
+1 Reply
Akil_Stokes Nuno_Nascimento
@Nuno_Nascimento, I'm pulling for Portugal, normally I would say they don't have enough, but I think it's going to be a free for all because nobody has been dominate up to this point in my opinion
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out