This AUD/USD 4h chart shows price is forming a bearish Gartley at the 0.9160/70 area
4H Chart
Looking at the 1H chart it is very apparent that a bearish 3 Drive pattern is forming at 0.9160 which further confirms the trade setup on the 4H chart.
Sell = 0.9160
Stop = 0.9204
T1 = 0.9111
T2 = 0.9062
T3 = 0.9007
1h Chart
ADJUSTMENT:
T1 = 0.9111 to 0.9116
T2 = 0.9061 to 0.9066
UPDATE 3-15-10 [11:40 am EST]:
T1 was Filled at 0.9116 [44 pips of profit]
Now we need to move the rest of the stops to break even at 0.9160
15 min Chart
UPDATE: Pattern was invalidated because it failed to provide a bullish CF confirmation.
1h Chart
UPDATE: T1 can be moved to 1.3548 and once T1 is filled stops can be moved to break even.
USD/CAD possible 15 min BUllish Gartley
We can move stops to break even
UPDATE:
stopped at break even
Trade according to 4xSimplified rules for trading the Gartley
4h Chart
4h Chart
UPDATE: T1 = 178 pips, T2= 232 pips, T3 = 351 pips; TOTAL profit 761 pips
The weekly chart shows Bearish/Sell not Bulish Bat.
Weekly Chart
Daily Chart
1h Chart
4h Chart
A setup for the CAD/JPY Sell at 85.25 was discussed during Monday’s class. Although the price has reached our entry level, it is imperative that we wait for some form of bearish signal be it a bearish CF or indicator cross. As I related in Monday’s class, stops can be placed accordingly once the bearish signal has been confirmed with all the limits remaining the same.
1h Chart
UPDATE – We entered the trade on 1h a bearish engulfing candle with a stop placed above the candle. Later we ware stopped out with a loss of -37 pips for each of the 3 positions.
