TomHall
Short

AUD/CHF - Gartley Pattern

FX:AUDCHF   Australian Dollar/Swiss Franc
On the AUD/CHF             4hr chart we have a potential short opportunity at the D leg completion of the Gartley Pattern .
The price reversal zone that is of interest is between 0.6982 & 0.7000

The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
This particular PRZ zone has some nice confluence from a strong psychological number to a double top setup.

It is possible to get long at the break of the B leg resistance at 0.6925, however it is advised to await a D leg completion at 0.6982 before looking to take any action.

Potential targets for the Gartley Pattern placed at the .382% and .618% retracement of the C to D move.
Stop loss would be placed above X leg structure resistance .

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When do patterns become invalid? For example would this be invalid because of last candles close above reversal zone?
+1 Reply
TomHall TOP VitruvianTrader
Hi,
Yes this pattern it now invalid as the price can gone beyond the D leg completion.
Reply
Thanks for the reply!
+1 Reply
TomHall TOP VitruvianTrader
No problem.
Reply
How To Trade The Gartley Pattern.
How To Trade The Gartley Pattern.
Reply
I like it because its near the strong psychonumber 0.7000, we will have a reaction near that area for sure. Regards.
+1 Reply
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