Long Term Advanced Chart Pattern Trades.

These are long term trades, taken from D1 - M1 charts.

Stop losses will be big, but with good ratios to profit targets.

Trade at your own risk and make sure you are cautious with your lot sizes.

USD/SEK

Pattern Bearish Gartly

Time Frame - Weekly.

I am taking this trade now, sell 6.5528

SL 6.654 (1000 pips)

TP 6.6500 (3000 pips)

Always fun when you open a trade and it moves 300 pips against you the very same hour

Profitsniper007 said:

Always fun when you open a trade and it moves 300 pips against you the very same hour

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LOL... Don't say like that. He will improve his trading.

I don't know why he is using his Skype ID for the graphs. Going to be a signal provider soon ? :whistling

robertofx said:

LOL... Don't say like that. He will improve his trading.

I don't know why he is using his Skype ID for the graphs. Going to be a signal provider soon ? :whistling

Click to expand...

It was me that said it :whistling

After the breakout was always pretty sure to meet 6.600 - I think it will turn on that.
If not, patterns prob failed.

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robertofx said:

LOL... Don't say like that. He will improve his trading.

I don't know why he is using his Skype ID for the graphs. Going to be a signal provider soon ? :whistling

Click to expand...

Highest 1 hour close was 4 pips off what I quoted here.

New York opened 23 pips off what I said to this person (on a pair that moves more than that in a average minute) - this is far from a done deal of course, price can easily rally through and hit our SL still, gartly's work a lot of the time but not all the time, is always good at 3:1 ratio, and excellent at 6:1 ratio - will take it every time.

GBP turned about 2 pips after our TP for about 45 pips prof.

There are more, but I don't want to labour the point.

I am not going to be starting giving signals soon, I have been doing it for a long time. Am just new to this forum lol.

Or, maybe it's just beginners luck ... who knows.

**EDIT**

Marked the GBP trade wrong (whata noob) was actually a few candles after that, and therefor 30 pips.

I tried to stay in GBP and got stopped out coz I had my stop a few pips too high - isn't trading fun lol

If this target of 6.35 hits, it would be most likely to see market retrace off it at least 1000-1500 pips, since it is coming down 3000 it would be fairly consistent for it to move back up at least 1/3 of that move.

So 6.35 may be a good place to have a buy order, with stop under the wicks on the weekly lows at around 6.27

Profitsniper007 said:

If this target of 6.35 hits, it would be most likely to see market retrace off it at least 1000-1500 pips, since it is coming down 3000 it would be fairly consistent for it to move back up at least 1/3 of that move.

So 6.35 may be a good place to have a buy order, with stop under the wicks on the weekly lows at around 6.27

Click to expand...

USD/SEK? You entered at 6.55 short, with 3000 tp, so isn't the target at 6.25?

what are the margins of SEK? This trade would scare the **** out me ha

Update.

This is daily chart (Original set up was from weekly)

Price broke resis within a few mins of original entry and rallied up to the next major resis where it floated about there for a few hours testing the 6.6 but not breaking it (on 1 hour +, prob did on smaller charts) This was another potential enter area from 5.59 - 6.6 (fibs resis)

The day candle could not close up there being pushed down.

For the bears to take control of this pair, it need to break down under the green line, I think if that happens, we should see some strong bearish momentum taking over. If the bears can win out the week, the weekly candles will strongly correlate with the expectations of this pattern.

4 Hour chart;

Nice down trend move on 4hour with new lows and retrcements.

Again, the green line is important here, a break under there should bring a nice bearish move, 6.49 will be a likely area for this to meet before retracing and then commencing down trend after finding resis on a retest of the green line area.

NFP on Friday of course means that techs can easily be invalidated and this could be a sharp move down (I would be happy enough with that) or a sharp move up depending on the NFP data.

Profitsniper007 said:

I tried to stay in GBP and got stopped out coz I had my stop a few pips too high - isn't trading fun lol

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Then went right on the hit target 1 for 100 (wouldbe) pips - tradings fun.

Never got back in this one, I had pendings set to pick up the trade if it came back to a level where I would have a nice enough R/R to get in but it never.

Would rather miss it than chase it. In trading, rules are NOT made to be broken

Might see a really nice fall on EURGBP to .84

This is a strong support area and a good place to buy.

SL .82 and TP .88

Not for the feint hearted lol.

Another big rally on this pair took it up to yet again retest the 6.6 where again it was rejected, far more strongly this time.

Was a decent chance to pick up another position on this trade.

I think now if the 6.6 was to break if would be on positive NFP results tomorrow and it would result in the original stoploss hitting so I have now moved my stop down closer to 6.6

Profitsniper007 said:

Might see a really nice fall on EURGBP to .84

This is a strong support area and a good place to buy.

SL .82 and TP .88

Click to expand...

There was a fairly expectable short term move up on this pair on the ECB (I say expectable since it is highly unlikely that the rates could have been cut again so the news was always likely to be "good") but that was swiftly corrected.

Was fairly strong again today but again looks like it will close down near the low.

Looks like the weekly chart will close with a pretty bearish look about it and this order may well trigger by mid next week.

If price breaks under 0848 and then retests it I may look for a short trade, but I am more interested in look for that long trade to 088 - 089

Will be shorting if it reaches 0.8901 where I would expect a pull back.

USEK trade seems to have survived NFP, spiking up again but not violating the high and looks like it will close having been pushed back down a bit. We shall see what next week brings for this pair.

Quick update since we have the close now.

While I would have been much happier to see the 76% fib break this week, that would have strongly implied that the 61% would act as resis and there would be bearish momentum next week, price did at least close under the 61% fib.

Could be better, could be worse.

Weekly closed down at the low of previous weeks, but never managed to close under it.

For anyone interested in learning what a gartly pattern is (the reason for the USEK trade)
I made a thread in the techs section.

http://www.trade2win.com/boards/technical-analysis/174840-gartly-pattern.html#post2143686

Potentially another Gartley pattern coming up.

This time bullish AUDNZD.

I am not 100% sure if I will trade this, I may wait for bullish confirmation, or trade it in reduced lot sizes since it does not fit with my ideals (you need to use wicks rather than closed candles for this to be a valid pattern - by my definition)

Still, worth watching.

Enter price, stop and profit targets marked on chart. (stop slightly lower, maybe 5-10 pips, I just could not fit that on the chart)

Trade at your own risk.

Profitsniper007 said:

Potentially another Gartley pattern coming up.

This time bullish AUDNZD.

I am not 100% sure if I will trade this, I may wait for bullish confirmation, or trade it in reduced lot sizes since it does not fit with my ideals (you need to use wicks rather than closed candles for this to be a valid pattern - by my definition)

Still, worth watching.

Enter price, stop and profit targets marked on chart. (stop slightly lower, maybe 5-10 pips, I just could not fit that on the chart)

Trade at your own risk.

Click to expand...

I agree! Bullish AudNzd is a great long term trade!

This report is an excellent source of ideas…The extremely negative sentiment will favor the Cable