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Gartley

Bearish Momentum Continues!📉 Monthly Chart: - Support at 0.6160, but no end to bearish trend. - Consider countertrend moves carefully. 📉 Weekly Chart: - Market near resistance, but don't miss the bigger picture. - Be cautious with countertrend trades. 📉 Daily Chart: - Strong bearish movement. - Market shows weakness at previous resistance. 📉 Four-Hour & One-Hour Charts: - Potential countertrend opportunities, but be cautious. - Look for confirmation before engaging in trades. 💡 Trading Strategies: - Weekly chart: Gartley pattern at 0.6173 for patient buyers. - Daily chart: Bullish crab pattern at 0.6191 for buying opportunity. - One-hour chart: Counter trend buying opportunity around 0.6400 if market breaks lower.
Long
by RaynLim
Sideways Market Opportunity!🌟 Weekly Chart: - Consolidation since March 2022. - Patient trading can earn you 609 pips. - Ideal for traders looking for longer-term gains. 📊 Daily Chart: - Consolidation within the zone. - Trading within this zone brings 104 pips. - Great potential for 1-2 weeks of trading. 💡 Trading Opportunities: - Weekly chart: Bearish shark pattern in play. - Daily chart: Bearish crab pattern and more. - Four-hour chart: Butterfly pattern and gartley pattern. 💰 Profit Potential: - Weekly chart: First target 397 pips (~$3,970 USD). - Daily chart: Running profits of 158 pips (~$1,580 USD). ⚠️ Trading Strategy: - Set alerts on lower prices for early decisions. - Wait for confirmation, like double tops with RSI divergence.
by RaynLim
Trading Opp. Amid Sideways WavesTrading can be exhilarating when setups let you seize chances without wrestling with the broader trend. 🚀 Let's talk New Zealand Yen – a treasure trove of potential this week, regardless of the overarching movement. Gaze upon the weekly chart, and you'll spot the bearish shark pattern, already in motion since 88.24. Kudos if you've joined the ride! I'd ride it to the first target at 84.36, where the 5-0 pattern gifts a buying prospect. Our watchword: Will the market cradle within the blue box? Turning to the daily chart, a bullish bat pattern wraps up at 84.25. And if you had the insight to short on the bearish crab pattern, cheers! Your pockets are now heavier by 212 pips, a cool 2,120 USD. Strolling through the four-hour chart, a gartley pattern is ripe for the picking at 85.56 – a splendid buying occasion. If your sights are set on shorting, that 86.73 resistance line beckons. Zoom into the one-hour chart, and another gartley at 85.92 awaits, accompanied by a bearish shark at 86.82. 🦈📊 But wait, there's more – the 15-minute chart boasts a deep gartley at 86.20. So many opportunities, all within a single currency! A sign that sideways markets birth harmonic patterns, right? But remember, clarity in strategy is key. Decide if you're hitting that first target and running, or holding on for the second despite opposing patterns. And here's the golden rule: either chart your trade in advance or find a mentor deeply immersed in the trading fray.
Long
by RaynLim
GBPUSD ADVANCE HARMONICS GARTLEY BULLISH PATTERN Hello, fellow traders! Let's take a look at GBPUSD, which is currently presenting an interesting trading opportunity. GBPUSD has formed an advanced harmonic Gartley bullish pattern on its hourly chart. This pattern suggests a potential bullish reversal in the pair's price action. The Gartley pattern is a harmonic trading pattern that helps traders identify potential reversal points in the market. It is named after the trader H.M. Gartley, who first introduced it in his book "Profits in the Stock Market" in 1935. The pattern is based on a series of Fibonacci ratios and consists of five points labeled X, A, B, C, and D. The Gartley pattern can be bullish or bearish, and it is formed by the following price movements: XA Leg: The pattern starts with a strong price move called the XA leg. It can be a bullish move (X to A) or a bearish move (X to A), and it is usually a significant price swing. AB Leg: After the XA leg, there is a retracement known as the AB leg. The AB leg is typically a counter-trend move, and it should be a 61.8% retracement of the XA leg. BC Leg: The BC leg follows the AB leg and is in the same direction as the XA leg. It is typically a 38.2% or 88.6% retracement of the AB leg. CD Leg: The final leg of the pattern is the CD leg, which is the continuation of the BC leg. The CD leg should be a 78.6% retracement of the XA leg. If the Gartley pattern is bullish, the CD leg will be an upward move; if it is bearish, the CD leg will be a downward move. The Gartley pattern is considered complete when the CD leg reaches the 78.6% retracement level. At this point, traders look for potential reversal signals, such as candlestick patterns or other technical indicators, to confirm the pattern and consider taking a trade in the direction of the reversal. Traders often use the Gartley pattern in combination with other technical analysis tools to increase the probability of successful trades. It is essential to practice proper risk management and use stop-loss orders to protect against potential losses when trading the Gartley pattern or any other trading strategy. As of now, the price is trading below the long entry level (EL) at 1.27256. This indicates that the market is approaching a potential buying opportunity in line with the Gartley pattern. However, it's essential to exercise caution and wait for confirmation before entering any trades. The stop loss (ST) is set at 1.25913, which serves as an invalidation point for the pattern. In case the price breaks above the long entry level (EL) at 1.27256 and confirms its uptrend, the stops will be adjusted accordingly below the low prior to the bullish confirmation. For potential targets, I have identified two levels based on the Fibonacci retracement of the XA leg: Target 1: 62% of XA: 1.30210 79% of XA: 1.31148 Target 2: 127% XA: 1.33814 162% XA: 1.35719 We should closely monitor GBPUSD as it develops, watching for confirmation signals and following the market's price action closely. As a trader, it's essential to apply proper risk management techniques and use stop-loss orders to protect your capital. Trading involves risk, so it's crucial to stay disciplined and adhere to your trading plan. Keep a close eye on GBPUSD as it develops, and happy trading, and may the markets be in your favor!
Long
by TradeChartPatternsLikeThePros
11
SPX500 - Could we see 4300-4400??OANDA:SPX500USD has had 3 big gap days to finish the week really strong. Could we see the bigger pattern play out towards the 61.8% level from the ATH? or even 4400.. There are a lot of resistance areas to come before that level so ideal scenario is to wait until we get a tradable retracement to buy. There could also be a deeper correction before higher prices as we are coming into some smaller pattern completions. I will post these smaller TF charts below. Plenty of data this week to move things around finishing with NFP on Friday. Enjoy the week.. Can this rally continue.
FOREXCOM:SPX500Long
by L_F
6
The Rollercoaster Ride of Pound AustraliaAs we approach the final week of August, brace yourself for potentially one of the most volatile periods this month. The market is signaling its intentions as I navigate my way through twelve pairs, making the selection process a challenge. Nonetheless, let's dive into the Pound Australia, and I'll even introduce two additional currency pairs for your benefit. 📊💹 Pound Australia reveals an intriguing story on the weekly chart. With new highs being set, the prospect of Pound Australia hitting 2.0000 as a significant milestone isn't far-fetched. The candle's accelerating gradient signifies a robust market movement. 🚀 The daily, four-hour, and one-hour charts echo this bullish trend with broken resistances and new highs. Despite this, you might wonder about the trading opportunity. In fact, immense profit potential lies in the development of these trades. For those acquainted with trading, conduct your own analysis on Pound Australia using UTC+3 as your timeframe to align with my insights. And if you seek clarification or wish to share your analysis, the QR code will connect you to our community of like-minded traders. 💬🌐 Returning to the weekly chart, let's unveil why Pound Australia holds importance this week. For those eyeing a shorting opportunity, the completion of the bearish crab pattern at 2.1276 is on the horizon. Although reaching this level, let alone 2.0997, may take some time, the potential is undeniable. Stretching my trade upward could yield significant rewards, with a projected 1,419 pips. However, it's not just about the pips – there's a compelling rationale behind this trade. 📊📉 On the daily chart, buying opportunities beckon when a market retracement occurs and retraces back to 1.9330. Patience is key in engaging these trades. The four-hour chart presents less at the moment unless a trendline retest triggers a definitive level, possibly in the weeks to come rather than the immediate future. 📈📉 Now, onto the exciting prospect – the one-hour chart. This week, a bullish flag pattern will unfold, offering immediate trading opportunities. Engaging this pattern involves meticulous strategy, be it through an aggressive setup with stops below 1.9808 (utilizing my secret formula), waiting for a breakout and subsequent retest, or a blend of both. While seemingly simple, the bullish flag pattern demands a well-thought-out approach to ensure your trade's success. 📊📈 In the realm of the 15-minute chart, where volatility rules, the Pound Australia might be considered insane to some. However, driven by the substantial potential rewards, I'm willing to navigate this territory. A red eclipse serves as a warning signal for the setup, but immediate buying opportunities at 1.9841 might emerge, especially on a Monday. Keep your eyes peeled for a magic candle confirmation at this level to secure a promising trade. This could be an incredible setup before wrapping up the year. 📈💰
Long
by RaynLim
A Dive into the Australian DollarTrading strategies offer a captivating avenue, providing opportunities to engage trades with less overthinking. In the case of the Australian dollar, however, it has displayed weakness, manifesting a bearish trajectory. Let's explore this together. On the weekly chart, an important point arises – the violation of the previous low. While not a critical support level, it warrants attention. Shifting to the daily chart, a significant support breach is evident, potentially inviting bearish traders seeking shorting prospects in the upcoming week. 📊📉 Zooming into the four-hour chart, the market witnesses a robust bearish movement that transitions into consolidation. This consolidation beckons Counter-Trend Traders to consider buying within this region, while Trend Traders eye selling opportunities around 0.6441. The one-hour chart unveils a similar consolidation, often breeding patterns that attract a flurry of traders. This is a pair that should not be underestimated or overlooked. 📈🔄 Revisiting the weekly chart, trading strategies come into play. The bullish gartley pattern at "X" carries a warning – its slight dip below the pattern merits careful interpretation, contingent on your candle reading skills and trading rules. This approach has worked seamlessly within my trading setup, tailored to specific currency pairs and timeframes. Shifting to the daily chart, sideway movement and increased volatility have persisted for months, casting caution for those seeking buying opportunities on previous support levels. The awareness to discern this pattern could have spared traders potential losses. 📉📈 An intriguing setup emerges – a crab pattern at 0.6193. A counter-trend buying opportunity beckons, although emphasis on magic candle confirmation at the PRZ remains paramount. Progressing to the four-hour chart, my focus is elsewhere. While trendlines and resistance at 0.6439 suggest shorting prospects, they do not capture my attention. 📈📉 The one-hour chart, however, holds promise. A deep gartley pattern setup at 0.6470 signals a shorting opportunity. Upon achieving and surpassing my first target, I may choose to maintain the trade, securing profits. If you're drawn to the allure of dedicating just 15 minutes a day for enhanced income, even to potentially replace your current job, don't hesitate to drop me a message. Let's explore this avenue together. 📈💰
Short
by RaynLim
Strong Bullish WaveEyes on the pound dollar chart reveal a resolute bullish trend. If contemplating a shorting opportunity, meticulous strategy testing and conservative stop-loss management are paramount. 🛑💼 Turning to the weekly chart, a pullback effortlessly rests on prior resistance, indicating the enduring strength of the overarching bullish trend. Daily chart support stands steadfast, with potential traders wary of a head and shoulder formation at 1.2831. However, personal experience dismisses this due to the prevailing robust momentum and familiarity with the pattern after 18 years of trading. 📊 Glancing at the four-hour chart, a consolidative phase presents several trading prospects, soon to be unveiled. On the hourly chart, further confirmation emerges within the consolidation phase, unveiling ample trading opportunities. 🕒 Returning to the weekly chart, analysis and strategies take center stage. Within the buy zone, prospects for buying opportunities flourish. Daily chart showcases a bullish gartley pattern on retest, inviting trading action. The four-hour chart displays a gartley pattern with a retest setup, accompanied by a prolonged consolidation period spanning 68 bars. This scenario prompts a choice between swift engagement or risk-reward patience. ⏳💰 For those aiming for counter-trend maneuvers, a shorting chance beckons at 1.2955 via a bearish shark pattern. Alternatively, a bullish bat pattern on the hourly chart, yet to solidify, offers a preferable entry at 1.2636. Trading transcends mere trend analysis, requiring timeframes, filters, and entry conditions for success. The ultimate goal is profit without undue trade extension.
Long
by RaynLim
A Ticket to Ride: A Pathway to ProfitEmbarking on this trade has the potential to unlock substantial gains. The allure of this trading setup lies in its composition: a Bullish Gartley Pattern harmonizing with RSI Divergence. This synergy is reinforced by the prevailing weakness of the JPY. This confluence presents a promising opening, notably amplified by the market's respect for the support level. Concerns about the Potential Reversal Zone (PRZ) being breached can be allayed. The candle that appeared to challenge it, in fact, constructs a Pattern Excursion Zone (PEZ). In simpler terms, think of it as a "Covered Support." As the name implies, this indicates that support remains intact – in this case, the PRZ remains unviolated. In this endeavor, strategic planning is paramount: Plan Your Trade & Trade Your Plan. 📈📊 #TradingOpportunity 📉 #ProfitPotential 📈 #StrategicPlanning 📋 #MarketInsights 🌐
Long
by RaynLim
1
Good Gartley example - post mortem observationSee how volume was drying down and was not validating the rising price. Then we had this red Outside bar on raising volume that occurred at the exact 1 to 1 point. Also, it occurred above a previous high so we might imagine that stops were taken. This was also the 61% retracement. Another confluence point is a Divergence from both the 8 and 14 period Stochastics which adds up to have an explosive move. You don't need two, one is just fine. it's for sure an after-the-fact observation, but these Gartleys or Spring take some time to set up, and then when they go they go. With the good ones you rarely have a chance to enter back into the trade. Just observing - one of the targets I use is the 161% extensions of the recent pullback so let's see if the price will go there.
Short
by TheSpringHunter
Gartley or AB=CD from the 61% retracement levelWe have a Gartley or AB=CD potential from the 61% retracement level. Volume is drying down which is a leading indicator of price. SPX500 regularly tests the 78% range which was going to make the setup called Gartley 222. I personally look for these at the 61% levels and the 78%. Quite possible to see a few stop hunts until we see a decisive move down, but some reaction on the downside might give us a good trade setup. Happy trading!
BLACKBULL:SPX500Short
by TheSpringHunter
Immediate Trading OpportunitiesAustralian Dollar Starting with the weekly chart, consolidation is evident. On the daily chart, a retest of the previous support within the consolidation. A four-hour chart shows an RSI divergence—a gem for counter-trend traders. The one-hour chart mirrors this setup. Reading trend movements with precise filters is pivotal to distinguishing buying from selling opportunities. 🔍 Weekly Chart Insights 🔍 A Gartley pattern is brewing at 61.67 on the weekly chart—a potential buying level. Transitioning to the daily chart, a retest of the Gartley pattern hints at earning extra income. The RSI divergence adds confidence. Conservative traders should wait for candlestick confirmation before proceeding. 📊 Four Hour Chart Dynamics 📊 An ABCD pattern on the four-hour chart presents a trading opportunity. Prudence calls for awaiting additional confirmation. 🕒 Timing the Trades 🕒 My focus leans towards the four-hour chart. I aim to engage around 9:00 AM Singapore time when candlestick formations provide supplementary confirmation.
Long
by RaynLim
4