How to trade ADVANCED PATTERNS like a pro
Published: 2017-08-24
Status:
Available
|
Analyzed
Published: 2017-08-24
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
The speaker has a long bias on the Canada Swiss due to a break above the previous high, and predicts it will at least retest and potentially go beyond previous highs.
"we have a long bias on this pair and another reason we have a long box on this pair is because we just broke above and closed above our previous high right here so that was our previous high and as you can see we were able to close above that high before pulling back so that being the case it's quite possible that we could see this market at least retest these hots and possibly even go beyond them with the current trend that we have"
Pending
A specific level of resistance on the 4-hour chart for the Canada Swiss is identified as a point of interest if the market pulls back into it.
"so now that we have our reasons for going long now that we have our bias in place out here on the daily chart we can actually drop down the time frame so here we can look for levels of structure we can look for entry reasons let me go ahead and delete this pattern that correctly correlate with our daily analysis so looking at this 4-hour chart I don't really see much when it comes to a way we could enter the market here but what I do see is a nice level of structure resistance back here that has been support and resistance multiple tops that's telling me that that's a level of the market I need to be paying attention to if this market pulls back into that level"
Pending
An advanced Gartley pattern is identified on the hourly chart of the Canada Swiss, with a potential completion point near a previously identified level of structure.
"now for that trade I'm actually gonna have to drop down one more time frame so let's head down to the hourly chart and now here on the hourly chart we actually have a really nice advanced pattern and I'll give you guys a second to see if you can spot this advanced pattern before I draw it in so did you guys spot this advanced Kartli pattern we're looking at a move from X to a a to B B to C and C D completion down here close to that level of structure that we were paying attention to for a trading opportunity"
Pending
The stop loss for the identified Gartley pattern on the Canada Swiss will be placed below the level of structure that was previously noted.
"meaning that our stop loss will be below X on these advanced patterns meaning that our stop loss will be below the level of structure we were paying attention to for a trading opportunity so there's a breakdown of why I'm interested in trading this advanced Gartley pattern here on the Canada Swiss"
Pending
The potential reversal zone for the Gartley pattern on the Canada Swiss is predicted to be between the 786 retracement of X to A and the 127 extension of A to B, which aligns with an ABCD pattern.
"and for the potential reversals on with the Gartley pattern were looking at an area between 786 for tradesmen and an extension of 8 down to B and back to a and I'll actually draw that in again so as for the extension we're looking for an extension starting from a down to B that's the move we want to extend to find our potential reversal zone and of that we're looking at the 127 extension which is right below our 886 retracement and for added confirmation on this pattern we clone the A to B leg you can see that we actually have an ABCD pattern coming down right at that 127 extension"
Pending
The speaker reiterates that the Gartley pattern completion zone on the Canada Swiss is between the 786 retracement of X to A and the 127 extension of A to B, aligning with an ABCD pattern completion.
"so for the potential reversals on with the Gartley pattern were looking at an area between 786 for tradesmen and an extension of 8 down to B and back to a and I'll actually draw that in again so as for the extension we're looking for an extension starting from a down to B that's the move we want to extend to find our potential reversal zone and of that we're looking at the 127 extension which is right below our 886 retracement and for added confirmation on this pattern we clone the A to B leg you can see that we actually have an ABCD pattern coming down right at that 127 extension so for the potential reversals on with the Gartley pattern were looking at an area between 786 for tradesmen and an extension of 8 down to B and back to a and I'll actually draw that in again so as for the extension we're looking for an extension starting from a down to B that's the move we want to extend to find our potential reversal zone and of that we're looking at the 127 extension which is right below our 886 retracement and for added confirmation on this pattern we clone the A to B leg you can see that we actually have an ABCD pattern coming down right at that 127 extension"
Pending
The potential reversal zone for the Gartley pattern on the Canada Swiss is predicted to be between the 786 retracement of X to A and the 127 extension of A to B, with an ABCD pattern also confirming this zone.
"so for the potential reversals on with the Gartley pattern were looking at an area between 786 for tradesmen and an extension of 8 down to B and back to a and I'll actually draw that in again so as for the extension we're looking for an extension starting from a down to B that's the move we want to extend to find our potential reversal zone and of that we're looking at the 127 extension which is right below our 886 retracement and for added confirmation on this pattern we clone the A to B leg you can see that we actually have an ABCD pattern coming down right at that 127 extension so for the potential reversals on with the Gartley pattern were looking at an area between 786 for tradesmen and an extension of 8 down to B and back to a and I'll actually draw that in again so as for the extension we're looking for an extension starting from a down to B that's the move we want to extend to find our potential reversal zone and of that we're looking at the 127 extension which is right below our 886 retracement and for added confirmation on this pattern we clone the A to B leg you can see that we actually have an ABCD pattern coming down right at that 127 extension"
Pending
The completed Gartley pattern on the Canada Swiss, combined with an uptrend on the daily chart and a 4-hour structure level, makes it an interesting trading opportunity.
"and finally completing the pattern will look something like this and with the current conditions in the market considering we're at an uptrend on the daily chart and we have a 4-hour level of structure at our red lot that is what made me interested in this trading opportunity here on the Canada Swiss"
Pending