There is a bearish Gartley for EURCHF. Upon confirmation of a bearish bias, I will go short. Take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg AD and A point. The stop loss has the same number of pips as TP1 by default. Tentative details are as follows:
Trade Setup: Bearish Gartley
Price Entry 1.15727
SL 1.16509 | SL pips 78.2
TP1 1.14945 | TP1 pips 78.2
TP2 1.14463 | TP2 pips 126.4
TP3 1.13681 | TP3 pips 204.6
RRR1 1.00 | RRR2 1.62 | RRR3 2.62
Trade Setup: Bearish Gartley
Price Entry 1.15727
SL 1.16509 | SL pips 78.2
TP1 1.14945 | TP1 pips 78.2
TP2 1.14463 | TP2 pips 126.4
TP3 1.13681 | TP3 pips 204.6
RRR1 1.00 | RRR2 1.62 | RRR3 2.62
Comment:
This setup remains valid but please take note that there is a related trade idea with a bullish bias:
Comment:
This setup is invalidated with a candlestick closing above 1.15727 (78.6 of XA). (June 6)