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efirestone
Jul 8, 2016 8:45 PM

EURUSD Gartley and Potential Butterfly Pattern Long

Euro Fx/U.S. DollarFXCM

Description

We have a Gartley pattern that completed the D point during Brexit. Due to the significant thrust from C to D and lack of time symmetry my thought is the Gartley pattern will be invalidated and we will extend down into the Butterfly pattern. IMO this will likely get closer to the 1.618 extension, but is a valid bullish pattern once the 1.272 extension is reached.

I will be watching this one closely.
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