USDJPY: Potential Bearish Advanced Gartley Formation Short

U.S. Dollar/Japanese YenFXCM

Description

⋅ Nov 1, 2016 9:13 AM

A potential bearish Advanced Gartley Formation setting up on the USDJPY looking for a D leg completion at the 105.22 Level.

This is a price move that returns back into previous resistance after breaking the "B" leg of a bigger potential bearish bat formation on the daily

Trade closed: stop reached

⋅ Nov 1, 2016 6:24 PM

Stopped out -28. Not my day 1 win 3 losses

Comments

Neeshan

⋅ Nov 1, 2016 7:44 PM

What was the 1 win? I'm 0 for 3

Akil_Stokes

⋅ Nov 2, 2016 10:08 AM

I had a win on Monday's GBPUSD bear Gartley to start the day before losses on EURUSD, GBPJPY & USDJPY

LewisGlasgow

⋅ Nov 1, 2016 7:11 PM

Great share Akil, here is what I took from that chart:

Akil_Stokes

⋅ Nov 1, 2016 7:33 PM

Thanks, and I certainly still like the test and bounce of previous structure support

CortesTeam

⋅ Nov 1, 2016 6:29 PM

We had 1 to 3 too, the bright side is...... it's still the beginning of the week, the "Opportunity flow" goes on for 2 more days.

Akil_Stokes

⋅ Nov 1, 2016 6:33 PM

Yup, and we certainly have an active week on our hands

RuhailKhan

⋅ Nov 1, 2016 6:29 PM

Dear Akil your MT4 advance indicator wort the same?

Akil_Stokes

⋅ Nov 1, 2016 6:33 PM

It doesn't see all of the pattern formations that I see, and I don't agree with 100% of the pattern formations that it finds. But it's a great tool for recognition

VusaniOceans

⋅ Nov 4, 2016 9:40 AM

lool yeah no indicator can see patterns better than you do, i was watching your video "cypher gone wild"..it was really helpful, now i can see patterns i couldnt see before.

Akil_Stokes

⋅ Nov 4, 2016 10:33 AM

Thanks. I think pattern recognition tools are helpful. Certainly cut down on analysis time and sometimes they see things that you miss. But in general (and this is just my philosophy) I always trust myself over anything else.