Tag Archives: gartleypattern

Trade: Sell OptiBiotix Health PLC (OPTI) (ABCD Pattern, Gartley Pattern)

Trade: Sell OptiBiotix Health PLC (OPTI) (ABCD Pattern, Gartley Pattern)

Snapshot:

 OPTI Short ABCD Gartley Pattern

OPTI Short ABCD Gartley Pattern

Reasons For Trade:

  1. ABCD Pattern formation
  2. Gartley Pattern formation
  3. 200sma confluence with gartley completion
  4. Weekly and Monthly RSI 7 Overbought

Stop Placement:

110p

Targets:

51p

Trade Execution:

At market or higher

Concerns:

None

Planned News/Events Expected:

Unknown

Post Execution Review:

 

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EURAUD Gartley Pattern Butterfly Pattern ABCD Pattern 200SMA Short Forex Trading Idea

EURAUD Gartley Pattern Butterfly Pattern ABCD Pattern 200SMA Short Forex Trading Idea

Snapshot:

EURAUD Gartley Pattern Butterfly Pattern ABCD Pattern 200SMA Short Forex Trading Idea
EURAUD Gartley Pattern Butterfly Pattern ABCD Pattern 200SMA Short Forex Trading Idea

View it on TradingView

Reasons For Trade:

  1. Gartley Pattern completion in PRZ zone
  2. Butterfly Pattern Completion in zone
  3. ABCD Pattern completion
  4. Fibonacci confluence of 78.6 retracement and 127.2 extension of last retaracement
  5. 200sma in the zone
  6. Strong supply Area

Stop Placement:

Above supply zone

Targets:

as shown, there are 3 targets

  1. Structure based
  2. 38.2 Fib retracement from advanced pattern
  3. 61.8 FIB retracement from advanced pattern.

Trade Execution:

Wait for confirmation

  1. Take targets as you go along
  2. Tail stops on 3rd target as EUR can take a bearish rotation again to give large profits.

Concerns:

None

Planned News/Events Expected:

Week is packed with news

MonOct 26 5:00am EUR German Ifo Business Climate
TueOct 27 5:00am EUR M3 Money Supply y/y
8:30pm AUD CPI q/q
AUD Trimmed Mean CPI q/q
WedOct 28 8:30pm AUD Import Prices q/q
ThuOct 29 All Day EUR German Prelim CPI m/m
4:00am EUR Spanish Flash CPI y/y
4:55am EUR German Unemployment Change
8:30pm AUD PPI q/q
FriOct 30 3:00am EUR German Retail Sales m/m
4:00am EUR Spanish Flash GDP q/q
6:00am EUR CPI Flash Estimate y/y
EUR Core CPI Flash Estimate y/y
EUR Unemployment Rate

 

Post Execution Review:

Pending

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Leave a comment: I would love to hear your thoughts, suggestions on this topic. Please leave a comment.
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Disclaimer: This web site is just my financial trading log and is for educational purposes.
Please do your research, analysis and take your decisions. You must not rely on my actions or analysis.
Please see the Disclaimer page.
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EURUSD Bat Pattern and Gartley Pattern Long and Short Trading

EURUSD Bat Pattern and Gartley Pattern Long and Short Trading

Snapshot:

EURUSD Bat Pattern and Gartley Pattern Long and Short Trading
EURUSD Bat Pattern and Gartley Pattern Long and Short Trading

Reasons For Trade:

  1. For long entry we have Gartley pattern completing just above 1.1320
  2. For short entry we have a bat pattern completing around 1.1430 level

Stop Placement:

  1. For long Gartley entry stop needs to be 1 ATR i.e. 13 pips below A.  See concerns below.
  2. For Short Bat Pattern we can have stops just above A around 1.1470

Targets:

  1. First Targets at: 38.2 Fibonacci
  2. Second Targets at : 61.8

Trade Execution:

  1. Take first target and close 60%

Concerns:

  1. 10sma is in the middle of 50sma and 200sma causing market to get stuck at the moment. So if market goes on to complete Bat pattern it will be in uptrend. That means we will have to be careful about our extended targets.
  2. If the market goes to complete gartley pattern we may not be in down trend. We will still be consolidating as long as it respects point A. However we will have 50sma and 200sma above us that means we will again have to be careful with our extended targets.
  3. Also for gartley pattern stop placement is not clear as the next level is below 1.1279 which gives us a huge risk area.

Planned News/Events Expected:

TueOct 20 8:30am USD Building Permits
ThuOct 22  7:45am EUR Minimum Bid Rate 0.05% 0.05%
8:30am EUR ECB Press Conference
USD Unemployment Claims
FriOct 23 3:00am EUR French Flash Manufacturing PMI 50.2 50.6
3:30am EUR German Flash Manufacturing PMI

Post Execution Review:

22-Oct-2015: Closed this order. I was waiting for confirmation to take position. Today’s price action has invalids this trade idea. So orders cancelled.

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Leave a comment: I would love to hear your thoughts, suggestions on this topic. Please leave a comment.
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Disclaimer: This web site is just my financial trading log and is for educational purposes.
Please do your research, analysis and take your decisions. You must not rely on my actions or analysis.
Please see the Disclaimer page.
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AUDUSD Bat Pattern & Gartley Pattern for Long & Short #Forex #Trading

AUDUSD Bat Pattern & Gartley Patterns for Long & Short

Snapshot:

AUDUSD Bat Gartley Patterns for Long Short Forex Trade
AUDUSD Bat Gartley Patterns for Long Short Forex Trade

Reasons For Trade:

  1. Bat Pattern for Long Trade entry
  2. Gartley Pattern and Bat Pattern for Short Trade Entries

Stop Placement:

  1. For Long Bat Pattern it has to be below the X point. We see that there is 7200 level too. So stop has to go below that. This increases ours overall risk in trade.
  2. For Gartley Pattern based short entry the stop has to be above X point however we have another structure high just before that. So we will include that too. We use ATR (at the moment it is 13 pips). So stop = high+atr. It is however better to take short entry based on Bat Pattern as it gives us better R/R ratio.

Targets:

  1. For Long Bat Pattern , first target will be at 38.2 retracement and second target will be at 61.8 level.
  2. For Short Gartley Pattern first target is 38.2 retracement and second target can be start of the bat pattern
  3. For Short Bat Pattern , first target will be at 38.2 retracement and second target will be at 61.8 level.

Trade Execution:

  1. For Bat pattern we can be aggressive and front run orders before 0.7220 level.
  2. For Short Gartley Pattern wait for market confirmation using Double Top/Over Bought/Bollinger Bands/2618 type of entry technique.
  3. For Short Bat Pattern  we can be aggressive.

Concerns:

For Gatley pattern there is not much R/R ratio is not good for the first target. As SMAs are just below completion of gartley, price may just come back to retest them and go upwards.

Planned News/Events Expected:

TueOct 20 8:30am USD Building Permits

Post Execution Review:

Pending

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Leave a comment: I would love to hear your thoughts, suggestions on this topic. Please leave a comment.
---------------------------------------------------------------------------------
Disclaimer: This web site is just my financial trading log and is for educational purposes.
Please do your research, analysis and take your decisions. You must not rely on my actions or analysis.
Please see the Disclaimer page.
---------------------------------------------------------------------------------

#AUDCAD 4H Fibonacci, Gartley Short Idea

#AUDCAD 4H Fibonacci, Gartley Pattern Short Idea

AUDCAD 4H Fibonacci Short Idea
AUDCAD 4H Fibonacci Short Idea

Reasons For Trade:

1. Close Fibonacci Confluence of 0.786XA leg with 1.272 AB leg
2. Gartley Pattern
3.  RSI has been overbought i.e. above 80

Stop Placement:

  1. Above the are of resistance

Targets:

  1. 23.6 Fib Retracement of AD Leg will be the first target as this is currently respecting 23.6 instead of 38.2
  2. 50.0 Fib Retracement of AD Leg will be the second target as this is currently respecting 23.6 instead of 38.2

Trade Execution:

  1. Let the price reach the PRZ and look for Double Top or Bearish Divergence or an Advanced Harmonic Pattern completion in the zone on a lower time frame i..e. 1H or 15M chart.
  2. As soon as Target 1 is hit, move the stop to break even and close half of the position.

Concerns:

  1. Stop Placement. The Supply/Demand theory suggests stops where they are. However advanced harmonics dictates stops to go above previous structure.

Planned News Expected: (UK Time)

MonOct 12  6:20pm CAD BOC Gov Poloz Speaks
TueOct 13 1:30am AUD NAB Business Confidence

Post Execution Review:

Pending

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Leave a comment: I would love to hear your thoughts, suggestions on this topic. Please leave a comment.
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Disclaimer: This web site is just my financial trading log and is for educational purposes.
Please do your research, analysis and take your decisions. You must not rely on my actions or analysis.
Please see the Disclaimer page.
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How To Trade Forex Harmonic Patterns

Trade Forex Harmonic Patterns

AB=CD (50.0)

  1. C point retraces less than 50.0 of AB, CD will be equal to AB
  2. Do not trade an AB=CD pattern with less than 38.2 retracement
  3. Always use Double Top with divergence for entry.
  4. Target 1: 38.2 of AD leg, Target 2: 61.8 of AD leg

ABCD (Alternative ABCD) (50.0, 127.0, 1.414, 1.618.0)

  1. C point retraces more than 50 of AB, CD will be 1.27AB or 1.414AB or 1.618 AB
  2. Always use Double Top with divergence for entry.
  3. Target 1: 38.2 of AD leg, Target 2: 61.8 of AD leg

abcd

Gartley (61.8 XA, 61.8 AB, 127.2 AB) – (60-70% Profit Making Pattern)

  1. B must touch at least 61.8 of XA but must not touch (wick) or close beyond 6 of XA
  2. C touches at least 61.8 of AB but its wick cannot go beyond point A
  3. D point will be at 127.2 of AB in confluence with 78.6 of XA. 127.2 AB extension is more important.
  4. PRZ between 127.2 AB extension and point X
  5. Must have at least valid ABCD pattern
  6. Stop is 2 ATR below X
  7. Target 1: 38.2 of AD leg, Target 2: 61.8 of AD leg

gartley

Butterfly (78.6 XA, 38.2 AB, 127.2 AB) – (Low Profit Making Pattern)

  1. B retraces to at least 78.6 of XA but must not touch (wick) or close beyond 6 of XA
  2. C retraces to at least 38.2 of AB but its wick cannot go beyond point A
  3. D point will be at 127.2 of AB. D point must pass point X
  4. PRZ between 1.27 AB and 1.618 AB
  5. Stop is 2 ATR below previous structure, look left on the chart
  6. Target 1: 38.2 of AD leg, Target 2: 61.8 of AD leg

butterfly

Bat (50.0 XA, 61.8 AB, 161.8 AB) – (80% Profit Making Pattern)

  1. B touches at least 50.0 of XA but must not touch (wick) or close beyond 8 of XA
  2. C retraces to at least 61.8 of AB but its wick cannot go beyond point A
  3. D point will be at 161.8 of AB, 0.886 of XA
  4. Stop is 2 ATR below X
  5. Target 1: 38.2 of AD leg, Target 2: 61.8 of AD leg

bat pattern

Cypher (38.2 XA, 127.2 XA, 78.6 XC) – (80% Profit Making Pattern)

  1. B retraces to at least 38.2 of XA but must NOT close beyond 8 of XA
  2. C is at 111.3 of XA in the XA direction (must close above A), must not close above 1.414
  3. D must touch 78.6 of XC
  4. Stop is 2 ATR below X
  5. Target 1: 38.2 of AD leg, Target 2: 61.8 of AD leg

cypher pattern

 

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Leave a comment: I would love to hear your thoughts, suggestions on this topic. Please leave a comment.
---------------------------------------------------------------------------------
Disclaimer: This web site is just my financial trading log and is for educational purposes.
Please do your research, analysis and take your decisions. You must not rely on my actions or analysis.
Please see the Disclaimer page.
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