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

GBP/JPY Long off of 4-hr. chart - Bullish Gartley

The GBP/JPY has formed a Bullish Gartley pattern on the 4-hr. chart.  See chart for details.  Stop placed below X at 174.50.  Markets are very volatile.  Control your risk.

GBP/JPY Gaps Down from Friday Close

The GBP/JPY gapped down form Friday's (09/05/14) close.  This has produced a nice profit for those of us who traded the Bearish Gartley pattern from my previous post.

GBP/JPY - GARTLEY Pattern Trading Examples

GBP/JPY GARTLEY pattern trading examples.

GBP/JPY - Daily
GARTLEY pattern examples

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.

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.

GBP/JPY Butterfly Pattern - Weekly Chart

GBP/JPY Bearish Gartley has turned into a Bearish Butterfly.  1.272AB = CD,  projects point D to be 156.43.  1.618AB = CD,  projects point D to be 158.83.  We are in between these points right now.  If price exceeds 158.83, I would close the trade.  Otherwise, be patient.  Happy Trading.

GBP/JPY Gartley Pattern - Weekly Chart

Bearish Gartley Pattern has formed on Weekly chart of GBP/JPY.  This may turn into a Butterfly pattern but is worth trading at this point.  Stop-loss is set above 156.71, which is point X in the pattern.  I use the average daily range of the pair I am trading to help determine how far away to place my stop-loss.  Some charting packages call this ATR (Average True Range).  You can leave it on the default setting.  The value usually doesn't change significantly.  ATR(14) = 152 pips and ATR(100) = 177 pips.  See chart.  Happy Trading.  : )

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.