Bearish AB = CD Pattern on GBP/JPY 4-HR. Chart

 Bearish AB = CD Pattern on GBP/JPY 4-HR. Chart [Click on chart to view in a Larger format]

GBP/JPY 4-hr. Chart with AB=CD Pattern

This Bearish ABCD pattern here is almost exactly an AB=CD pattern. The AB Leg is 303 pips and the CD Leg is 301 pips. The other very interesting thing about this pattern is that the length of time for each section to form is the same.  11 bars for the ABC section and 11 bars for the CD section. The candlestick at point D is a Spinning Top. This was an indication of a potential Reversal also.

Price went down and hit the 38.2% Fibonacci Retracement Level and then traded back up briefly. It hit resistance around previous high and tested the 38.2% Level again.

Very Symmetrical : I've found that the patterns that show the best symmetry tend to be the most useful patterns. (See Chart)

Manage your Risk.  Happy Trading!

GBP/JPY - Bullish Engulfing Pattern, 4-HR Chart

 GBP/JPY has formed a Bullish Engulfing candlestick pattern on the 4-hr. chart.  Trade Entry at candlestick open after the Bullish Engulfing candlestick at 162.80.  Profit targets at the 50% and 61.8% Fibonacci Levels.  Stop should be placed below Bullish Engulfing pattern. 

GBP/JPY Bullish Engulfing, 4-hr. Chart

UPDATE --- EUR/USD Breaks down after Bearish Gartley Pattern AND several Bearish candlestick patterns

EUR/USD is currently testing the 61.8% Fibonacci Retracement of the move up from point A to D.  The 61.8% level is around 1.1236.  See Chart.

EUR/USD - 4-hr. Chart : Bearish Gartley with Fibonacci Profit Targets

EUR/USD forms Bearish Gartley pattern on 4-hr. Chart

A Bearish Gartley pattern has formed on the 4-hr. chart of the EUR/USD.  Also, an Evening Star candlestick pattern completed on Tuesday, 04/092019.  These are pointing to a higher probability of the EUR/USD going down and testing the 1.1200 area over the next few days.  Remember, control your risks.  Trade with a happy attitude.  When in doubt, GET OUT!  You can trade again tomorrow.

: )

EUR/USD - Bearish Gartley pattern on Daily chart

EUR/USD - Bearish Gartley pattern

EUR/USD - Bearish Gartley: Fibonacci Profit Targets

Bearish Butterfly Pattern - Example

This is an example of a Bearish Butterfly Pattern.  I have placed the information on the chart for the XABCD points so you can perform your own calculations.  I always print my charts and do much of the analysis by hand. See My Trading Toolbox to see how I trade.  I do use the computer to draw Fibonacci Retracement Levels and Extensions.  However, when you are first beginning to trade, it is better for you to do the hand calculations.  You will thank me later. : )

Happy Trading!

Bearish Butterfly - Example

Bullish Gartley on 4-hr. USD/JPY chart

A Bullish Gartley pattern has formed on the 4-hr., USD/JPY chart.  Very good symmetry.  See chart for details.  Recommended Stop-loss placement illustrated on chart #2.  Happy Trading!

"One only gets to the top rung of the ladder by steadily climbing up one at a time, and suddenly all sorts of powers, all sorts of abilities, which you thought never belonged to you ---- suddenly become within your own possibility..."

---- Margaret Thatcher (British Prime Minister, 1979 - 1990)

USD/JPY - Bullish Gartley, 4-hr.

Stop-loss Placement for USD/JPY Long