On the Euro/ Aussie we have a bearish gartley pattern form. Now with the 222 pattern being the most famous pattern of all Harmonic Patterns, this Gartley pattern is setting up nicely and will be a great setup to keep an eye out as the Asian Markets open up. the ABCD 707 recip 141 completes exatcly on the 786 xa retrace and the completion might be a pip above that. The 127 cd leg is the top end of the box giving us a narrow prz. Now the 222 pattern is expected to quicly reverse out of the zone once entered. so with that being the case look for the reversal pattern becasue a reversal formation is not likely. target TP1 for the initial T1 setup and wait for the retest for the larger move
#RiskFreeOrBust
EURAUD
#RiskFreeOrBust
EURAUD
Comment:
We might have our terminal bar on this pattern!! Might have a possible entry around 10 US time Central Time Zone!
Comment:
Currently PA is getting rejected by the 886 of this gartley pattern. when i was charting this particular pattern i was conflicted becasue some of the measurements were infavor of the 886 and some for the 786. either way the whole prz has been tested wait for the reversal signal to enter if you want. for me im sitting this pattern out. i didnt like the measurements when i was drawing this pattern!
Comment:
Look how gorgeous this pattern played out. PA burned through the PRZ and then the harmonic level over came the buyes formed a nice reversal formation and reversed! I missed this trade but will catch it next time!