Get started

Gartley886

EURUSD: bear signal29/02-2020 This time we are looking at a bear Gartley 886 completion with symmetry between London session closing prices on the 15 minute timeframe. This should trigger sell limit orders for swing trading. Im going to try and place my entry point around 1.104-1.105 with initial stops around 1.106 or X and look for an extension target. Our last trade on EU, all though we saw a decent decline hit target 1, I didn't find the trade very rewarding: Here the rejection with 89 WMA as support and the triangle have a fibonacci time confluence. This should have been interpreted as a bull 5-0 reversal, not a bear shark continuation, and it would have been a very good trade with a steady advance in this market: Anyway, its all about the next trade and learning from past mistakes right? Good luck to all trading EUR/USD for the coming week Happy trading folks
Short
by MikulovicFOREX
3
08/02-2020: Gartley 886Can you spot the Gartley?? This is a monthly chart of EURUSD A huge decline is shown on the chart causing lower lows and lower highs forcing a downtrend in the market. We then see a Gartley pattern and we now anticipate a retest of previous highs which would then give us a chance to get on board the present trend. The PRZ is highlighted as the cluster on the chart. Look to sell short from here. 1.36 most likely where we are heading while we may have to test the potential support sitting at 1.08143 as showed on the chart as 78.60%. Prices should not close below this level. Expect at least a 25% advance in these prices and then a dip should be expected! Im going to take some time off. This will be my last post in a while. Thank you guys for all the support and make sure to stay tuned for any updates. Happy trading for the rest of you
Long
by MikulovicFOREX
1
05/02-20: EURUSD Gartley 886In this chart we see a strong decline and a shift in momentum with the trendline breakout. The chart is painting higher highs and higher lows suggesting this market is in an uptrend. We then see a Gartley 886 pattern 1.618 should be top range of PRZ in Gartley patterns but in this case we see it is not. Now another PCZ anticipates strong support around 1.097-1.098. Support is usually below prices with resistance above, therefor it would be smart to speculate in long positions with tight stops below prior lows. Thank you for reading and make sure to check related ideas for more info Comment your thoughts below if any. Leave the chart a like as a sign of appreciation God bless
Long
by MikulovicFOREX
EURJPY Bearish Gartley 886 This time im updating the chart on EURJPY. As you can see I spotted 3 potential harmonic patterns in the making on this particular pair. If you take a look at how price reacted to the completion point in the Gartley 886, you can clearly see the rejection and how sellers immediately took control of the market. Besides that, last week closing price took out the median regression trend line and closed below. I am expecting a significant drop, with a minimum profit target of the 38% XA retracement at 120.5xx, but could go all the way towards 62% XA retracement at 118.7xx The best entry would imho happen to be be right now, around 121.3xx. Thank you for reading the analysis Dont forget to like the chart and make sure you leave any comments in the section below I appreciate all support, thank you so much & please keep it coming my way! Happy trading and God bless
Short
by MikulovicFOREX
1
Binance Coin - Gartley 886What's going on everyone, I hope you all had a great weekend! Today I'd like to provide a short-term technical outlook on Binance Coin (BNB/USD). BNB/USD is in the final stages of forming a bullish gartley 886 formation on the 1h chart, providing a trading opportunity with a 1:2.5 risk to reward. The measurements for a valid gartley 886 are detailed below. B: 0.618 C: 0.382 - 0.886 D: 1.13 - 1.618 X to D: 0.886 (Only applies when AB=CD completes beyond 0.786) The reversal may well take place at the 0.786 retracement but the better option would be to wait on the lower entry level. This setup should be executed in real time based upon the price action that follows the confirmation of the potential reversal zone. My main focus is 22.27, once price tests this area I'll be dropping down to the 15m chart to look for an entry. If price starts slowing down and consolidates in the current area it'll be unlikely I'll take the trade (I've provided an example below). We experienced this type of price action around the C point as shown. Remember to keep your risk in check, don't set any pending orders at 22.27 this should be executed and managed in real time. Let's have a good week of trading!
BINANCE:BNBUSDLong
by LewisGlasgow
6
EUR/GBP - Gartley 886What's up traders, I'm currently watching the gartley 886 on EUR/GBP 15m chart. The measurements for a valid gartley pattern are detailed below. B: 0.618 C: 0.382 - 0.886 D: 1.13 - 1.618 Final X to D: 0.786 (0.886 due to AB=CD completion) Gartley patterns at an 88.6% retracement of XA are unique, this is utilised when the AB=CD completion extends past the 78.6% retracement which is the standard measurement. Checking 5m and 1h timeframe, pattern is now complete!
Long
by LewisGlasgow
2
AUD/NZD - Gartley 886 and CypherWhat's going on traders, I hope you've all had an excellent weekend. I'm bringing you an opportunity to keep on the watch list, today we have AUD/NZD on the 1h chart with a bearish gartley 886 and bearish cypher. Gartley patterns at an 88.6% retracement of XA are unique, this is utilised when the AB=CD completion extends past the 78.6% retracement which is the standard measurement. If we execute the trade based on the gartley, allow more room for the stop loss than usual... Between 1.0 and 1.13 of XA (beyond X). The cypher pattern uses a stop loss beyond X. Pay attention to both formations if we see price break above the 1.07800 area, we can then start considering a shorting opportunity. Feel free to share your views below.
Short
by LewisGlasgow
5
NZD/USD - Gartley 886 Interesting situation on the 15m chart for NZD/USD just before market close. We've got a valid bearish gartley 886 that completed earlier today, price has now retested the same area and opened up a potential short. The measurements for a valid gartley pattern are detailed below. B: 0.618 C: 0.382 - 0.886 D: 1.13 - 1.618 Final X to D: 0.786 (0.886 due to AB=CD completion) Gartley patterns at an 88.6% retracement of XA are unique, this is utilised when the AB=CD completion extends past the 78.6% retracement which is the standard measurement. If we execute the trade, allow more room for the stop loss than usual... Between 1.0 and 1.13 of XA (beyond X). Hold off on entry for now until we get a clear signal. Thanks for your support as always!
Short
by LewisGlasgow
14