EURCHF has been on a downtrend. There is a possible bearish Gartley. Upon D completion at 1.16126 (78.6 of XA) and confirmation of the bearish bias, I will go short. Take profit targets are at the 38.2 and 61.8 Fibonacci retracement levels of leg AD and point A. The stop loss has the same number of pips as TP1 by default. Tentative details are as follows:
Trade Setup: Possible Bearish Gartley
Price Entry 1.16126
SL 1.16633 | SL pips 50.7
TP1 1.15619 | TP1 pips 50.7
TP2 1.15306 | TP2 pips 82.0
TP3 1.14799 | TP3 pips 132.7
RRR1 1.00 | RRR2 1.62 | RRR3 2.62
Trade Setup: Possible Bearish Gartley
Price Entry 1.16126
SL 1.16633 | SL pips 50.7
TP1 1.15619 | TP1 pips 50.7
TP2 1.15306 | TP2 pips 82.0
TP3 1.14799 | TP3 pips 132.7
RRR1 1.00 | RRR2 1.62 | RRR3 2.62
Order cancelled:
This setup is invalidated with the formation of a candlestick closing above 1.16126 (78.6 of XA). (July 5)