Vighnesh_Iyer

AUDCAD Potential Imperfect Gartley (Daily)

Short
FX:AUDCAD   Australian Dollar/Canadian Dollar
0
It might appear that a Gartley pattern has already completed on this pair, but the true potential reversal zone is defined primarily by the 0.786 XA retracement. The B point is not a precise 0.618 retracement of the XA leg, which is what makes this setup imperfect, and potentially invalid. I would wait to see what price action does in the reversal zone (red rectangle). The PRZ is not that tight due to the AB=CD completion lower than it should be due to the imprecise B point retracement. Trade this pair with caution on this signal. I would wait for a double top in the PRZ on the daily or 4H charts with RSI divergence before even thinking about entry.

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