matt_forex
Short

Bearish Gartley or Bat?

FX:AUDUSD   Australian Dollar/U.S. Dollar
311 3 0
I'm waiting for this pattern to complete. While the pattern formation does not conform to strict Gartley and its various similar pattern rules, there seems to be Fib confluence at certain levels as seen on the chart.

Since the AUDUSD             is correlated with the S&P 500             , I expect the dollar to gain some strength since traders are anticipating a pull back in the S&P             .

I used different color fibs to make it easier to read

Blue = XA retracement
Black = AB retracement
Magenta= extension of BC             to find potential D levels.

Stops & Targets are marked on the chart.
S851
3 years ago
nice chart, thx for sharing
Reply
matt_forex S851
3 years ago
Thank you for taking the time too look at my chart. What is you opinion on the pair? I'm a little concerned with this pattern since the formation is not adhering strictly the rules.
Reply
S851 matt_forex
3 years ago
like the chart: dtops, measured move to 50 and bounce up, wouldnt drowe it better.
Reply
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