There is a possible bearish Gartley for EURUSD. Upon D competion at 1.17614 (78.6 of XA) and confirmation of a bearish bias, I will go short. Take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg AD and point A. The stop loss has the same number of pips as TP1 by default. Tentative details are as follows:
Trade Setup: Possible Bearish Gartley
Price Entry 1.17614
SL 1.18574 | SL pips 96.0
TP1 1.16654 | TP1 pips 96.0
TP2 1.16062 | TP2 pips 155.2
TP3 1.15102 | TP3 pips 251.2
RRR1 1.00 | RRR2 1.62 | RRR3 2.62
Trade Setup: Possible Bearish Gartley
Price Entry 1.17614
SL 1.18574 | SL pips 96.0
TP1 1.16654 | TP1 pips 96.0
TP2 1.16062 | TP2 pips 155.2
TP3 1.15102 | TP3 pips 251.2
RRR1 1.00 | RRR2 1.62 | RRR3 2.62
Comment:
This setup is invalidated with a candlestick closing above 1.17614 (78.6 of XA). (June 6)