Vighnesh Iyer

Gartley on AUDJPY (30M)

FX:AUDJPY   Australian Dollar/Japanese Yen
42 0 0
Gartley pattern just completed on AUDJPY             . Some harmonic measurements don't line up just so, but the reversal zone is well defined, and price action seems to have stabilized posed for a further move downward. There is also a double top on the 15 minute chart with RSI divergence.

UPDATE 5pm PST 3/20/14: Should have taken off first targets at the 0.382 retracement of the CD leg. Roll stops to breakeven, as it looks that price action is not moving downward strongly. Look for a 1.13 harmonic failed wave from the D point to the current low around 92.499. If that occurs, look to price action for another shorting opportunity. Only a small 16 pip gain so far.

UPDATE: Stopped out on second contract for breakeven and +16 pips on first contract.
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