On the right, the daily chart, a bearish gartley setup as a counter-trend trade but on the left contrary it's a trend trading opportunity for the bearish setup.
It's great as a third-chance entry for traders to short however I would very much discourage that thought for 2 reasons:
1) Target 1 for the bearish shark setup has been hit, and;
2) it looks pretty much...
If the price continues to rise and reaches to ranges of 0.8993 - 0.8996, we expect it to return and bearish gartley pattern is complete and start the downtrend.
Bearish Gartley setup within sell zone as a trend trading setup. I will be waiting for a retest to engage the trade. Do note multiple JPY related pairs shows and produce a selling opportunity.
Have a look into your thought process to see if your trading rule forbid you to do so.
EURUSD on all 3-timeframe is showing a bullish trend. On the daily chart(right) does pose a selling opportunity.
I'm waiting for a double bottom for further confirmation for a buying opportunity on the 4-hourly chart(left).
EURUSD trend line broken
and rejected at 618 level once
there is a potential bearish gartley pattern
around 1.1397 will be a good area to short
SL : 1.1420
TP : Follow arrow
Short term this is a bearish analysis, long term, I'm rather bullish on Bitcoin BTC from the the $9,500 region but it may be a while before we get there.
So far we've completed the first and 2nd wave of what appears to be a bearish gartley forming, ending in the low $13,000 region. This would put a target down to the $9,500 region.
My gartley is invalid if we do...
GBPJPY is on a bearish trend. Gartley Pattern happens on both time frame having a 4-hourly chart as a bearish Gartley setup and 1-hourly chart, a bullish Gartley pattern as a counter-trend trade.
How many trading opportunities within this trading analysis?
What's your trade plan on this?
Comment down below.
Classic Gartley SELL Pattern completed in EURAUD 1HOUR Chart.
Entry available as soon as the market opens.
110 pips of profit potentil
1.79 Reward/Risk ratio
Deep Gartley Setup at X, waiting for the candle close to see if it valid to engage the trade.
Having the candle close about the pink box the trade will be invalid.
The counter has formed a bearish gartley pattern.
Further, the bullish leg move can be construed as a ABCD pattern.
The RSI indicator is lurking in the overbought zone.
And a bearish trendline is capping the bullish move.
Hence, we expect the confluence of resistance to act together and initiate a bearish move to 1.70397 and 1.69833.
Bearish Gartley forms up, however having the wick of point C touches A and Entry Price at Point D is so close to Point B, it is not my favorite setup for this pattern.
I will have to wait for further confirmation to engage the trade.
The 2 Hour chart of NZD/CAD has formed a bearish gartley pattern.
It is currently facing resistance at 1.618 Fib extension which also interpret as bearish ABCD Pattern.
Also, the RSI indicator is lurking below the oversold region.
Hence, we expect the pair to move to the support 0.88385 for now.
The USDJPY currency pair took a nose dive over the past week due to to global trade wars currently underway. The USDJPY pair fell over 100 pips on Friday afternoon, May 31, 2019 which completed the BC leg on this identified bearish Gartley. I have also identified a bullish Gartley on the 5m-15m timeframes confirming the bulls entering the market after the massive...
