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Gartley

TSLA Bearish Gartley with entry on intradayI want to be a seller of TSLA at 274$ because: - D point of ABCD pattern completion in the Daily is at 266$ - D point of ABCD pattern completion in the 10-min from previous day's low shows a sell signal if the stock trades at 271$. However, I acknowledge the steep bull trend the stock is at, therefore I am going to put the entry at the 1.27 extension of this ABCD pattern which is 274$. - That area is at the 0.78 retracement from the previous high of the big ABCD pattern in the big picture which has to be taken into account considering that this ABCD might become a bearish Gartley pattern in the bigger picture. - I am going to use a 6$ stop placed at 280$. WHY 280? Because I consider that if we trade beyond that level, the patter is no longer valid.
NASDAQ:TSLAShort
by Sergio_196
22
Trend Doesn't Matter!!I'm not saying that trend isn't important, but on this particular trade, it is NOT. And that is because the NZDJPY is on a sideway market, and it didn't show a particular prominent sign. My top focus is to wait for a shorting opportunity on the Bearish Crab Pattern that shows up on the daily chart. It is common for crab patterns to have their retest before the actual move. Why this Crab Pattern? It coincides with the Bearish Shark Pattern on the Weekly Chart. If you want a buying opportunity, a magic candle confirmation 87.21 on the 1-hourly chart will allow you to engage the trade. Gartley Pattern is the first pattern that was discovered. What makes this Bullish Gartley Pattern interesting is that the completion falls on the Key Support Level on the Daily Chart, marked as the Blue Horizontal Line, indicating a Key Support Level. This is both amazing and disturbing to see for both traders. What's your take on the NZDJPY?
Short
by RaynLim
1
Identify Trend, FastThis is how I've identified the GBPUSD is going higher than most traders. If you look at the weekly chart, you would have spotted that the candle broke and close above the previous high; that gives me a sign even before it broke the current structure, and I've been saying that for over a month now. I'm focused on getting the buying on the buying opportunity. There are 2 buying opportunities I'm focusing on. A retest on the trendline on the daily chart is needed would be the magic candle confirmation. A Bullish Gartley Pattern trading setup that confirms at 1.2673. What are your thoughts on the GBPUSD?
Long
by RaynLim
EURJPY - Structure Reversals, Head & Shoulders & Gartley PatternToday we're looking at at structure-based countertrend setup on the EURJPY. What we're preparing for is the potential for both a head & shoulders top pattern and/or a potential bullish gartley pattern. Let me know what you think of the idea & as always if you have any questions, comments, or just want to share your views, feel free to do so below & I'll make sure to check it out! Have a GREAT weekend traders!! Akil
by Akil_Stokes
4
Fantastic OpportunitiesAs the WTI or US Oil is on a sideway movement, it creates fantastic trading opportunities for counter-trend traders like myself. There are 2 approaches I'm looking at in the following week. A Bearish Gartley Pattern at X, a shorting opportunity on the 8-range bar chart, or a Bearish Bat Pattern on the 4-hourly chart. The important candlesticks confirmation on the Gartley Pattern at X requires the next candlestick to touch 71.47 before the pattern is valid; failure to do so, I'll be waiting for the Bearish Bat Pattern. Magic Candle has to appear at 72.94 for the Bat Pattern on the 4-hourly chart(right) to be valid. This is how trading should be. Plan your trade, and wait for candlestick pattern confirmation before engaging the trade. What's your trade plan for WTI?
TVC:USOILShort
by RaynLim
2
Combo Trade with RiskThis trading setup provides 1 of the Best Profit Factor. But because of how the candlesticks interact on the PRZ(rectangle box) it is also the most dangerous trading setup. On the 8-range bar chart, there's a Deep Gartley Pattern setup, and on the 4-hourly chart, a Bat Pattern setup. Both setups is now resting at X. If you are new to trading, avoid this trade. If you have not traded Oil before, reduce your position sizing by at least 5x. It is better to missed a trade than to enter a trade you shouldn't have.
TVC:USOILLong
by RaynLim
Best of Both WorldsMy long-term bias on Dollar Appreciation had not ended, however, that doesn't mean I can't short the Bearish Crab Pattern that was completed at 140.42. If you had traded this, it would have given you 106pips(approx. 1,060usd/lot) of running profits. If you are like me, having the bias to long the USDJPY, the Bullish Gartley Pattern that completes at 137.84 could provide you with such a trading opportunity. Either way, the M.C confirmation has to appear in both situations.
Long
by RaynLim