AUDJPY Gartley bearish at key resistance
A Gartley advance pattern trading setup is forming.
The D point would be at a key resistance level , market has a consolidated bias which favors pattern creation and confirmation. There is also AB=CD completion above Gartley's D point. The AB=CD pattern trading rules indicate the entry point few pips BELOW D. RSI and price action would be our guide but right now if market moves to that level short entries look inevitable considering the great risk/reward ratio.
Stay tuned
With regards,
Michail Sideris
The D point would be at a key resistance level , market has a consolidated bias which favors pattern creation and confirmation. There is also AB=CD completion above Gartley's D point. The AB=CD pattern trading rules indicate the entry point few pips BELOW D. RSI and price action would be our guide but right now if market moves to that level short entries look inevitable considering the great risk/reward ratio.
Stay tuned
With regards,
Michail Sideris