A bearish gartley is very close to completion @ structure. The RSI is also indicating an oversold status. Put the stop loss nicely above the impulse leg of this pattern and very little can go wrong. The risk reward ratio is approx 1.5:1 for the first target and larger than 2:1 for the second target.
**** UPDATE **** The market decided not to respect this pattern and it failed Erase & Rewind ... up to the next opportunity
Comments
Shaior
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Are you following this too?
Nico.Muselle
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Yep, I'm short EURUSD ;)
Parmenides
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Missed the trade with 1 tick :(
Nico.Muselle
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Don't dispair, there might still be another opportunity, we might for example put in a double top ;)
Shaior
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Nice pattern. Aud/Usd Bat is also going to be completed....
Nico.Muselle
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Yes, I posted the AUDUSD bat previous weekend ... now finally nearing completion ! :)
Shaior
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I know, previous week i thought the Aud/usd Bat wouldn't complete, But, this week price is heading towards 88.6%. Let's see what market plays with this pattern....
Nico.Muselle
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Same here, I though it would not complete, but what do you know ... patience pays off :)
Shaior
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This is the latest view on Aud/Usd for me... Please take a look...
Nico.Muselle
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Hehehe, I have the same butterfly in my charts now ... not published though ! Excellent job !