Bearish Gartley with double hidden RSI divergence and confluence Short

Australian Dollar/Canadian DollarFXCM

Description

⋅ Jan 16, 2016 9:56 PM

Potential Reversal Zone confluences:
- Key Weekly resistance
- AB 127% extension
- XA 78.6% - 88.6% zone
- Double RSI Divergence
- Bullish trendline already broken to the downside
- Price passed 50SMA for the first time in 2 months

Comments

Alexander_Nikitin

⋅ Jan 17, 2016 8:04 AM

what needs to be done when price enters the prz?

JakeSummers4x

⋅ Jan 17, 2016 8:30 AM

Conservative entries may be taken on a lower time frame, by the confirmation of a price action reversal.

or

Aggressive entries may be taken by placing sell orders within the zone at your desire (based on your risk profile and reward expectations).