AUD/NZD: Gartley to re-test highs?
This Gartley could send us up re-testing highs or possible to new higher highs.
Ratio confluence gives us a tight PRZ:
- 1.272 ext. of AB
- 1.414 ext. of BC suggested by a C retraced to 0.705
- 0.786 ret. of XA
SL tightly below X but imo below 1.618 would also be OK if the Gartley does what it's supposed to do.
3 targets:
- TP1: 0.618 ret. of CD
- TP2: 127.2 ext. of CD
- TP3: end of AB=CD pattern: 1.618 ext. of BC suggested by the possible 0.786 ret; of AB if the Gartley works out
Additional shorts trades on chart from a possible completion of the AB=CD pattern.
Ratio confluence gives us a tight PRZ:
- 1.272 ext. of AB
- 1.414 ext. of BC suggested by a C retraced to 0.705
- 0.786 ret. of XA
SL tightly below X but imo below 1.618 would also be OK if the Gartley does what it's supposed to do.
3 targets:
- TP1: 0.618 ret. of CD
- TP2: 127.2 ext. of CD
- TP3: end of AB=CD pattern: 1.618 ext. of BC suggested by the possible 0.786 ret; of AB if the Gartley works out
Additional shorts trades on chart from a possible completion of the AB=CD pattern.
Comment:
Gartley filled!
Comment:
Tug-of-war at the PRZ... Let's hope the bulls win this one!
Comment:
Added a long at 1.0825, SL at 1.0790.
Comment:
Taking profits now (TP1) since we went down lower. SL remains for now.
