EURUSD H1 Bearish Gartley - 4 July 2011

4 July 2011

Bearish Gartley On EURUSD Hourly Chart.

This pattern is validate by 0.618 retracement of XA at B point and 0.886 retracement of AB at C point. While PRZ is define by a convergence of 0.786XA at 1.4563 and 1.41BC at 1.4580. Although AB=CD in this pattern is at 1.4470 which is about 90 pips from 0.786XA, i believe 1.4580 area will provide a limit in PRZ.

Trade Details :
Entry : 1.4560
SL    : 1.4695 (135 pips)
Target 1 : 1.4380 (180 pips)
Target 2 : 1.4260 (300 pips)

Although this trade could produce 1:3 risk reward ratio i only entered 1/3 of my normal position as SL is quite big for me (135 pips). Maybe i will go for target 2 with trailing stop if this trade manage to achive target 1 level.


5 July 2011

Price action is testing demand zone at 1.4450-1.44770. SL move to breakeven.










6 July 2011

Price action challenging demand zone at 1.4410-30.Lock in profit at 1.4505.

Stopout at 1.4460 with 100 pips profit.












7 July 2011

Trade followup.

Too bad i had been stopout before target 1 been hit. Sooo hate just to watch 150+ pips just been washed away... !!!!!! grrrrrr !!!!!!.

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Posted in: Bearish,EURUSD,Gartley

USDJPY H1 Bearish Gartley Pattern

29 Jun 2011

Trade Details :
Entry : 81.16
SL     : 81.70 (54 pips)
Target 1 : 80.67 (49 pips)
Target 2 : 80.29 (87 pips)

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Posted in: Bearish,Butterfly,USDJPY

EURGBP H1 Bearish Butterfly Pattern

29 Jun 2011

Trade Details :
Entry : 0.8981
SL     : 0.9030 (49 pips)
Target 1 : 0.8951 (30 pips)
Target 2 : 0.8912 (69 pips)

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Posted in: Bearish,Butterfly,EURGBP

EURJPY H1 Bearish Bat Pattern

29 Jun 2011

Trade Details :
Entry : 116.97
SL     : 117.80 (83 pips)
Target 1 : 115.77 (120 pips)
Target 2 : 114.90 (207 pips)

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Posted in: Bat,Bearish,EURJPY

EURCAD M15 Bearish Bat Pattern

Bearish Bat Pattern On EURCAD M15 Chart.

• B point at 0.500 retracement of XA.
• C point at 0.707 retracement of AB.

PRZ Zone :

• 0.886XA at 1.3961.
• 1.618AB=CD at 1.3963.
• 2.24BC at 1.3956.

The convergence of all fibonacci retracement in the PRZ zone at 1.3960 area give a strong probability of a reversal from predominant uptrend in 15min chart.PRZ zone also had been supported by two supply zone at 1.3945-1.3955 and  1.3960-1.3975.

Trade Details :
Entry : 1.3958
SL     : 1.3985 (27 pips)
TP 1  : 1.3915 (43 pips)
TP 2  : 1.3885 (73 pips)

EURCAD manage to reverse until demand zone at 1.3920-1.3930 before bounce back to PRZ zone.My position had been stopout at 1.3985 with -27 pips loss.
However i had short again for this pair at 1.3962.
The reason i reenter a position after SL been hit in this pair is i believe this is a alternate bat pattern. As for alternate bat pattern to be valid, B point must be at 0.382XA. In this case, B point is 9 pips above 0.382XA.In alternate bat pattern price action will reach beyond 0.886XA to 1.13XA but must not exceed 1.13XA. Normally price action will not test 1.13XA.

Trade Details :
Entry : 1.3962
SL     : 1.4005 (43 pips)
BE    : 1.3930
TP    : 1.3880 (125 pips)

I will not scaling into exit in this trade. However SL will be moves to breakeven once price action reach 1.3930.

Stopout at breakeven (1.3962).

Total : -27 pips loss.

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CADJPY H1 Bearish Deep Crab

22 Jun 2011

Bearish Deep Crab Pattern On CADJPY Hourly Chart.
This pattern is validate by a 0.886 retracement of XA at B point and 0.500 retracement of AB at C point.Convergence of 1.618XA and 2.618BC at 82.70 limit the PRZ Zone.

Trade Details :
Entry 1 : 82.49
SL        : 83.10 (61 pips)
BE       : 82.10
TP       : 81.75 (74 pips)

Price action made a rally to 82.60 before start to stall. I had entered 2/3 of my position on entry 1 as price action not yet retest the PRZ Zone at 82.70. Entry 2 will be triggered if price action needed to retest 82.70 area. However this trade not produce good risk reward ratio. I will not be scaling to exit in this trade because TP 1 should be at 82.10 while TP 2 should be at 81.75. Despite that beakeven level is put on TP 1 at 82.10. By this i can get at least 1:1 risk reward ratio.

23 Jun 2011

Add 1/3 of my position on second retest of PRZ Zone.
Entry 2 : 82.66
SL point and TP same with Entry 1.

Exit Entry 2 at 82.72 with -6 pips loss. Price action start to show lacked of reversal strength.
Reduce SL for Entry 1 to 82.95 (46 pips).

Update : Exit Entry 1 at 82.92 with -43 pips loss.
Total : -49 pips loss




24 Jun 2011

Followup on CADJPY. 
Sharp reversal after stoploss had been hit and reach my TP level already. It is frustrating when i'm faced a position like this. Just to watch my position had been stopout and price action quickly reverse after that.

Any comment on this is welcome...

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Posted in: Bearish,CADJPY,Crab