USD/CAD - possible Bearish reversal signal - Spinning Top

The USD/CAD posted a spinning top candlestick today.  The spinning top formed between the 78.6% and 88.6% Fibonacci levels (see chart below).  This may be the candlestick reversal we have been looking for to go with the Bearish Gartley pattern.  Non-Farm Payrolls tomorrow.  Be careful.  Happy Trading.

GBP/JPY Long Trade UPDATE

I am still long the GBP/JPY off of a Bullish Gartley pattern.  See post from July 21, 2014  However,  price has been trading sideways for about 8 days now within a very narrow range.  Will see how news this week moves the market.

UPDATE --- USD/CAD Short Trade

USD/CAD price is currently between the 61.8% and 78.6% Fibonacci retracement levels of XA.  A nice Bearish Gartley pattern has formed.  Look to go Short anytime now.  Some may want to wait for a bearish candlestick signal.  I would place my stop above point X, at least one ATR away from your entry price.  The Average True Range for the the USD/CAD for the last 200 trading days is about 60 pips.  Happy Trading.

USD/CAD Short Trade Shaping Up

Potential Short trade opportunity on the Daily chart of the USD/CAD.  USD/CAD is forming a Bearish Gartley pattern on the Daily chart.  AB = CD @ 1.0880 completes around the 78.6% retracement of XA at 1.0887.  It is in the zone where I would short it.  Just realize that price has a high probability of going up to at least the 1.0887 level.  May want to wait for a candlestick reversal pattern first.  See chart below.

Bearish Gartley - Daily, USD/CAD

GBP/JPY Long Trade - Daily Chart

A Bullish Gartley pattern has formed on the GBP/JPY.  Also, a long-legged doji and hammer candlestick formed around the 78.6% retracement of XA.

USD/CHF Bearish Gartley - Trade Setup

Bearish Gartley pattern has formed on the USD/CHF .  Pattern is very symmetrical.  Price has formed several doji candlesticks around the 78.6% retracement level of the XA leg.