Hi guys, I actually studied the Gartley pattern from a book named "Trade What You See" by Pesavento. It uses the Gartley pattern in conjunction with the famous AB=CD pattern giving us a nice trading range maybe to "dollar-cost-average" into a trade, reducing overall risk. Back to the trade idea, it is a bullish GARTLEY pattern @ 72.76 stop loss will be placed...
Cypher pattern completion. Hopefully won't kill me. Always sticking with the trading plan.
Potential bull cypher formation. It was bull Gartley from my previous idea but the C leg shot up to form the C leg of the cypher pattern.
Reasons to go short - Longer term trend is bearish Returning to a strong SR Level (blue lines) The last time is was at this level there was strong sell off and this is the first time returning to it (yellow boxes) Completion of bearish bat pattern Good risk to reward
It might not be the prettiest pattern but if price action will fall to .63774 then we'll have a completed Gartley pattern.
I have my eyes on a Bearish Cypher here on EURUSD 1H. The entry level lies right at structure level. We can see that on 1 H market is In sideways move, so I won’t go for extended targets. Good luck! Alex Von Rose Professional Trader and Founder of www.beaprofitabletrader.com Twitter/Instagram - @Alex_Von_Rose
This is the perfect example of why I love the Gartley pattern when completed at the 1.272 fib ext. It provides and excellent Risk Reward ratio.
Price has put in a lower low, lower close on the daily chart, which gives me a bearish bias. The C-leg of a potential bearish gartley is complete, and I'm now waiting to see if price reaches the D-completion for a shorting opportunity in the direction of the overall trend. Given that the B-leg retraced as far as it did, the risk/reward on this one is fairly...
Read text written in the chart.
EURJPY has entered the PRZ of a bullish bat that is confluent with various other S/R elements. On the D1 time frame, a pitchfork aligns with with the .50 retracement of a larger XA leg. This area is confluent with the 1.786 projection of BC and and the completion of an alternate AB=CD pattern. There's a secondary structure low below this level to add support. ...