Akil_Stokes
Short

GOLD: Bear Gartley

FX:XAUUSD   Gold/U.S. Dollar
Bear Gartley , Sorry for the lack of explanation earlier, but we found this while in the middle of my live trading room session. Essentially this is a bearish Gartley (which may have double topped by now) coming into previous structure. So for those looking to catch a move short.
Akil Stokes -Head FOREX Trading Coach at Trade Empowered
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Short but powerful explanation ;-)
+1 Reply
Akil_Stokes TOP JasperForex
2 years ago
Looked at this is the middle of the live room, was finally able to add a little more to it, but those who know, know exactly what it is. Short and sweet!
+2 Reply
aymankkhlifat
2 years ago
Thanks , here are 2 charts on my table on $Gold (1) http://stks.co/d1kRW (2) http://stks.co/i1o4Q
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Hi, Akil. Could you please tell me, what are your requirements for Gartley's C point.
+1 Reply
Akil_Stokes TOP Alexander_Nikitin
2 years ago
Must at least hit the 61.8 retracement
+1 Reply
Alexander_Nikitin TOP Akil_Stokes
2 years ago
thank you.
+1 Reply
kubair Akil_Stokes
2 years ago
Is that for B or C point? General B to C is .382 to .886 of the A-B move.
+1 Reply
Akil_Stokes TOP kubair
2 years ago
For me both must hit the 61.8
+1 Reply
Alexander_Nikitin TOP kubair
2 years ago
We were talking about the C point. If your C point is less then 61.8, you may face a Crab pattern. I don't personally trade Crabs (I think Akill doesn't trade them also), because the price should go beyond X to complete it. Of course a Crab may be considered as a broken Gartley, but why do I need them? If i exclude those Gartley failures which are indeed Crabs, won't my Gartleys be more profitable?
+1 Reply
Akil_Stokes TOP Alexander_Nikitin
2 years ago
You're correct in that I don't trade crabs or sharks, rarely butterflies either. 'm not saying there bad patterns, but I think to trade them consistently you'll need to narrow down the rules for them. A little to vague for my liking, plus the whole structure thing
+1 Reply
kubair Akil_Stokes
2 years ago
Akil, other than 7 period RSI, you do not use any indicators when trading these haromonic structures. Correct? can you explain why?
Reply
Pokemon_King
2 years ago
What's your target profit, Akil. 38.2 or 61.8 for target profit?
+1 Reply
Akil_Stokes TOP Pokemon_King
2 years ago
I don't personally trade gold
Reply
Pokemon_King Akil_Stokes
2 years ago
Ok. Thanks. I took the profit @38.2 anyway ;')
+1 Reply
Akil_Stokes TOP Pokemon_King
2 years ago
cha-ching!
Reply
Pokemon_King Akil_Stokes
2 years ago
Ahhh. I like this sound. Cha-ching!
Reply
IassenKapitanov
2 years ago
Hey Akil :) Was this a good trade or what?! ;) I took a Cypher entry (XA 1222.83/1205.40). I also see a potential bullish Cypher (X @ 1190.15). The CD leg hasn't broken B yet, but if it does, what do you think about an extended target on the Cypher, given that on the 4h chart, price action is in bullish rotation and gold is also bullish on the daily chart. The bears might also have a tough time with the 1200.00 even-handle. All in all, an extended target doesn't seem too unlikely given the confluence of data both in different time-frames and in the diversity of approaches such as structure, price-action, harmonics, and patterns. What do you think? I'll definitely give it a crack ;)

Iassen K.
12 week course AKA the Sniper Academy for traders ;)
+1 Reply
Akil_Stokes TOP IassenKapitanov
2 years ago
I'd personally be cautious about looking for a bullish extension until we trade above 1223 level but that's just me. I don't think it's a bad idea to shoot for it. If it hits they way you project, there's a ton of upside potential
Reply
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