FinanceRhino
Short

Bearish Gartley & Bearish Butterfly

FX:EURJPY   Euro / Japanese Yen
Well measured bearish gartley with internal bearish butterfly . Both patterns are completing in the same zone, price is hitting a significant resistance, and both patterns are showing nice bearish divergence. This one could be good! Waiting on price to react with the potential reversal zone (green box) and will make a decision from there.
Comment: Price has entered the potential reversal zone. Waiting to see how it reacts...
You could probably go short here and set your stop at the top of the zone, but I want to see a little more confirmation of momentum change.
Trade active: Short @ 131.37
Stop Loss @ 133.00
Comment: Looking good!
Comment: Taking some profit and letting the rest ride.
Comment: And.... I'm out!!! Perfect trade.

Comments

Do you think it will bounce off the trend line and continue up?
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is it worth it to leave this over weekend?
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@ranksama, Absolutely
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ranksama FinanceRhino
@FinanceRhino, thank you :)
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From when will your trade be active? which retracement level is considered as a sell for you?
+1 Reply
@Shawty, Price has entered the reversal zone, so waiting to see if it consolidates. if so, I will enter short.
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Vacation if this goes well :)
But it would really sucks if it reverse before the zone
+2 Reply
@ranksama, Haha, I know! It's usually par for the course. :)
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@ranksama, Hey Rank!! Just wanted to let you know that I got back from my vacation with the family, and it was incredible! I hope you were along for the ride!
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ranksama FinanceRhino
@FinanceRhino, Unfortunately no haha...
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