Risky NZDUSD SHORT Gartley? 100 pips Beware of the news over in a few hrs -- !!! Dangerous late entry !!
However, we have a Gartley!
Point B - price retraced XA, closed at 0.618, candle wick not beyond 0.786
Point C - then price retraced AB, closed bw 0.618 & 0.786
Point D - then price retraced extended AB up to 1.272 zone
20 pips SL, two trades TP at .382 & 0.618 respectively
Total 100 pips
Careful if you're entering late (i.e. now!)
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Bearish Gartley
Bearish Gartley makes the perfect downtrend break + retest!Bitcoin is currently consolidating between the resistance and support line.
After observing Bitcoins behavior we can make the following observation(s):
- Bitcoin's price bounced when RSI hit oversold condition on the daily.
- Bitcoin's daily MACD crossed right after it tested the support line several times.
We can spot the start of a possible Bearish Gartley which could make Bitcoin break the resistance line.
This Bearish Gartley would copplete at approximately 10700 USD.
The Bearish Gartley, after completion, retraced an average of 18% ( Based on the data used from thepatternsite.com )
If the bearish Gartley completes, followed by an average retrace after the completion of the Gartley, this would result in the perfect retest of the resistance line.
BEARISH GARTLEY ON NZDUSDA bearish Gartley has formed on NZDUSD however am still expecting an extension of the D leg before shorting more. I will be looking for more bearish evidence on this level 0.7000 This is a potential metric point for the reversal to occur. Use proper money management. All the best friends
Trading levels for 5/14/2018 + AB=CD + GartleyOk guys, here you have the levels for trading on monday, but i have also added a couple of levels that i think are gonna be key this coming week, one of them is the end of a AB=CD pattern at around 6695 to 7000, and the next one is a nice Gartley pattern formation at around 7020, i will add those charts in the comments section make sure you check them out, and what that means for us is that we will be taking some longs if we get some type of a pullback, and/or we will be shorting the market at R2 or possibly R3. As always PLAN YOUR TRADE AND TRADE YOUR PLAN
K.R.S.
Ripple: Trade down, then turn aroundIn todays Video I talk about 2 patterns. The 1st is a Butterfly which seems to be setting up (point B is a 78.6) and if that is the case price should move lower to form C which for me makes sense as I see missed Central Pivots (monthly & weekly) below.
That being the case I zoom into a smaller bearish Gartley which is setting up. I will look to short at D with my stop above X and then hold the position down to C (May central pivot & / or weekly from 3 weeks ago) of the bigger pattern (Butterfly) at which point I will take profit and look for an entry to trade the C D leg.
Lets see how things work out :)
BTC/USD potential Bearish Gartley $btc #cryptocurrencyPotential Bearish Gartley scenario that we are currently in for BTC/USD on Bitfinex. We still have a local target set around $9530~ USD level for this current uptrend.
The level would see heavy resistance as BTC tries to make a double-top at the previous 9700-9800~ range.
If Bearish Gartley pattern does play out, local high of BTC would become Short Entry (D of Gartley), with a stop loss at the previous high on the X of the Gartley (Previous High).
Target Profit zones would be initially in the .786-.618 retracement (short percentage). Most of the position would be held if BTC makes a move towards the inverse 1.272 extension (of our A to D Fib Retracement on the Gartley)
Gartley Pattern also @ play on BTCNot only is there the Rising Wedge, which is still at play, on BTC but I have also noticed a Bearish Gartley Pattern. I thought the market would be bullish due to what seemed like a 'Stop-Hunt' yesterday (the massive wic) but there has been circulation that supposedly it was BitFinex's system in play to equalize volatile spikes.
With so many bearish & overbought indicators at play, I am accumulating a short position to ride another wave of the retracement down.
VWAP of BTC in relation to Bearish Gartley potential. $btc So comparing these 2 charts, this is the daily candle of the vwap of BTC on major exchanges. Just getting into the resistance on the 24hr candle, which generally shows us this is local highs and we go slightly sideways short term.
The highest volume node listed on the chart as well is from the 20k to 6k move, highest volume node lines up with Potential Bearish Gartley 1.272 inverse Fib Retracement target.
Set targets, Set stop losses, Plan your trade, Trade your plan!