GBP/USD - Bearish Butterfly - Weekly Chart

Bearish Butterfly pattern has formed on Weekly - GBP/USD.   Price may run up to complete AB = CD pattern.  D projection is at 1.6364.  The 127.2% Fibonacci extension of XA is at 1.6418.  This would be a valid level for price to go to also.  Look for clues for a turnaround on shorter-term charts.

GBP/USD - Daily Chart - Hammer Forming

Hanging Man (Bearish) pattern has formed on Daily GBP/USD chart.  This goes along with our Bearish Butterfly formation on Daily chart, also. Symmetry is very good.  9 candles form XAB & 9 Candles form BCD.

Gartley turns into Butterfly - Daily GBP/USD

Bearish Gartley has turned into Butterfly.  Pattern has better symmetry than it did yesterday.  4-hr. GBP/USD price came close to hitting 161.8% extension of XA in European/US FX trading session this morning.  Trade still valid.

GBP/USD Bearish Butterfly - 4hr. chart

GBP/USD Bearish Butterfly has formed on 4-hr chart.  Also, a Bearish Gartley has formed on Daily chart.
Butterfly pattern completed around 127.2% extension of XA.

GBP/JPY Update - Gartley Pattern

Price reached the 38.2% & 50.0% Fibonacci profit target levels.  You could place your stop at break-even at this point and let the trade run on any remaining contracts.

Bullish Gartley Pattern - GBP/JPY - Daily Chart

Bullish Gartley pattern has formed on Daily, GBP/JPY.  Also, potential Bullish Engulfing candle forming.  This pattern has very good symmetry.

GBP/USD – Bearish Gartley Pattern – Daily Chart

Bearish Gartley pattern has formed on Daily GBP/USD chart.  Point D spiked just above 61.8% retracement of XA.

Average Daily Range = 146 pips.  Risk above 127.2% extension of XA.  Gartley would turn into Butterfly above X at 1.6063

Bearish Gartley - GBP/USD, Daily chart

NZD/JPY – Bullish GARTLEY Pattern – Daily Chart

Bullish Gartley pattern has formed on NZD/JPY Daily chart.  Nice Symmetry.  Fibonacci Profit Targets drawn in.  See chart below.

AUD/JPY 3-Drives BUY Pattern - Daily Chart

3 - Drives BUY Pattern has formed on AUD/JPY Daily chart.  The pattern is further confirmation of our Long AUD/JPY trade off of a Bullish Butterfly pattern.  Also, the AUD/JPY gapped down today from Friday's close.  It closed Friday @ 84.10 and opened Sunday @ 83.91.  These gaps or windows are usually closed by the end of the next trading day.

AUD/JPY, 3 - Drives Pattern : Daily Chart

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AUD/JPY Butterfly BUY Pattern - Daily & 4-hr. charts

Bullish Butterfly pattern has formed on Daily AUD/JPY chart.  Reason for trade: AB = CD pattern.  D projection comes in at about 84.12.  Candle spiked down to 83.97 just above the 127.2% ext. level.  Hammer or Doji may be forming on Daily chart.  4-hr. chart shows same Butterfly pattern.  Possible Bullish Engulfing candlestick pattern on 4-hr. chart.  Profit targets at 85.75 (38.2%), 86.30 (50.0%), & 86.85 (61.8%).

AUD/JPY Butterfly Buy Pattern - Video

GBP/USD Short trade update

Gartley Sell pattern turned into a Butterfly Sell pattern. Still a nice pattern. Risk above 1.6100. Technically, trade would still be a valid Butterfly all the way up to 1.618 extension of XA. Short video below.