Potential Bullish Gartley pattern here on the EURUSD 1 hour chart completing at 1.1206. The recent consolidation on the Euro has been good for pattern traders allowing us to profit on the Gartley/Cypher from earlier in the week, hopefully this Gartley can deliver us the same. (tradeempowered.com/inside-the-war-room-hangout/)
One thing about this particular pattern that you may want to keep an eye out for is the potential risk/reward. The safest place for a stop loss is going to be below the 1.1150’s level and because it’s not a deep “D” completion that may mean stretching your risk reward ratio past 1:1 if you want to be down there. That’s a personal decision obviously, but I do think it’s something to think about if taking this trade.
Akil Stokes
Chief Currency Analysis at Trade Empowered
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One thing about this particular pattern that you may want to keep an eye out for is the potential risk/reward. The safest place for a stop loss is going to be below the 1.1150’s level and because it’s not a deep “D” completion that may mean stretching your risk reward ratio past 1:1 if you want to be down there. That’s a personal decision obviously, but I do think it’s something to think about if taking this trade.
Akil Stokes
Chief Currency Analysis at Trade Empowered
Click here for 20+ hours of FREE Training
tradeempowered.com/learn-to-trade/
Click the link below to subscribe for more FOREX TRADING videos
youtube.com/channel/UCVveEks3MWZqOsvzTF_LGQg?sub_confirmation=1
Facebook: facebook.com/AkilStokesTrader
Twitter: twitter.com/AkilStokesRTM
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The Trading Coach Podcast
anchor.fm/thetradingcoachpodcast
Free Trading Computer Buyers/Builders Guide - tradingcomputerbuyersguide.com/optin-629312741738938873920
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Coaching, Courses & Community
tieronetrading.com/
The Trading Coach Podcast
anchor.fm/thetradingcoachpodcast
Free Trading Computer Buyers/Builders Guide - tradingcomputerbuyersguide.com/optin-629312741738938873920
tieronetrading.com/
The Trading Coach Podcast
anchor.fm/thetradingcoachpodcast
Free Trading Computer Buyers/Builders Guide - tradingcomputerbuyersguide.com/optin-629312741738938873920
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.