Fxprotrader
Short

AUDUSD Bearish Gartley About To Complete

FX:AUDUSD   Australian Dollar/U.S. Dollar
A bearish gartley pattern is about to complete. A bearish divergence with MACD makes it a high probability pattern. Stoploss and profit targets as shown at the chart. If price reaches the first target we move stoploss to breakeven at the second one.

In a previous post we saw two more bearish harmonics, a cypher and a butterfly with D point in the same zone as this gartley . See the link below.

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This is a good example of the main difficulty with Gartley patterns. Unless they complete fully you never really know where you are with them. This analysis is correct (SELL AUD) but the reversal has begun before the pattern is complete. I guess the failure to make a new high above .7182 would have suggested an entry but you would have needed a uncomfortable STOP in order to accommodate a retrace back to complete the pattern.
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