Nice identification of a bearish gartley on CADJPY and there may be bearish bias as you have identified. For our set up, we have identified the key resistance and support levels. The resistance that we have identified is at 86.67, which lies just above your point D. It is a horizontal swing high resistance with 61.8% Fibonacci extension, 61.8% Fibonacci retracement. Stochastic is approaching its resistance at 98% where a corresponding reversal could occur. If a corresponding reversal does occur, we may want to look at the 85.76 support level, which lies just above your point C. It is a horizontal swing low support with 50% Fibonacci retracement. Looking forward to seeing how things develop.
Please have a look at our idea and share with us what you think.
Please have a look at our idea and share with us what you think.