Akil_Stokes

GBPUSD 4hr - A Bullish & Bearish Potential Pattern Trade

FX:GBPUSD   Pound British/Dolar U.S.
Here on the GBPUSD we have two potential pattern formations setting up. A potential bearish bat formation & a potential bullish gartley .

Akil
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Nice one Akil! 0.886 lining up with some decent structure looking left too.
+1 Balas
@ChiNguyen, Thank you!
Balas
Hi Akil,
thanks for the analysis, this is a nice one.
What do you think about the PRZ to be reffered to as the zone enclosed by the three levels:
1 - .88 XA-retracement
2 - 1.27 AB = CD projection - since an AB=CD is mandatory for the pattern to be validated and
3 - 1.61 BC projection
If the price does not show any reaction on each of the three levels and ignores them all I skip the trade.
Happy pips
Nemo
+1 Balas
@Nemo75, If you can be consistent in how you use it I don't see a problem with it. I used to do something similar for the Gartley and ran into a few issues with consistency since each trading opportunity was unique.
Balas
Hey Akil, just wondering if the purple pattern was a Gartley and not a bat? (B retrac at 0,618). Thanks for sharing!
+1 Balas
@Gl3n, Hi, for me it did not hit the 61.8 so it's going to be a bat and not a Gartley. If your data hits the 61.8, then it's going to be a Gartley instead.
Balas
Gl3n Akil_Stokes
@Akil_Stokes, ok Akil thanks for sharing your analysis!
+1 Balas
@Gl3n, No problem!
Balas
Vamonosky305 Akil_Stokes
@Akil_Stokes, Thanks for the explanation. I have it as a Gartley as well. But now that you mention; yes, the B leg doesn't touch the 61.8. I'm in the trade anyway at 1.3986. Thanks
+1 Balas
Akil_Stokes Vamonosky305
@Vamonosky305, You're welcome
Balas
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