petermp25
Short

EUR/AUD Gartley Pattern

FX:EURAUD   Euro Fx/Australian Dollar

Entry around the 127.2 of AB @ 1.45818

Stops @ 1.47822, near previous highs of 02/12/2015, and above the 161.8 of AB
Entry @ 1.43649, just above the 38.2 of AD

The daily chart indicates a selling point, however the 4H indicates a potential rebound off the channel. Rebound could occur before descending to the 38.2
S. Stoch on both timeframes indicate further downside.

NB: Gartley patterns should form D at 127.2, however an extension to the 161.8 is acceptable and remains valid as long as there is no close beyond it.

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