So we're looking at a possible Gartley pattern on the 24H time frame.
The completion is on a very strong structure level, which has been a support and resistance level since April multiple times .
The 1.11000 is there and tested before and almost tested the 1.11500, which if it did our Gartley wasn't valid anymore.
However, It didn't test the 1.11500 and went straight down to a 88.6 retracement and now pulling back up to possibly a Gartley pattern.
If I take my friend Ichimoku to the chart, he shows me a few things.
One is that the clouds are above price, but close to the actual price and not far away above (down trend). The lagging line is moving up and is in the clouds.
That Base and conversion line are still below clouds, but coming close together to crossover (one recent failure).
Which all indicates weak bullish signals, but no strong break outs or trend continuation up. So good chance we move up and then go straigh down again as it is doing already for a while now between these levels.
All in all, I see a good chance of a Gartley completion here to go short on.
So this is my first time sharing an idea and using a thirt party side which plugs in trading view through there website. So there might be a good chance this Gartleyt was already spotted and posted on trading view.
So just for the fun of it. I was bored anyway ;p
Happy Trading !!
The completion is on a very strong structure level, which has been a support and resistance level since April multiple times .
The 1.11000 is there and tested before and almost tested the 1.11500, which if it did our Gartley wasn't valid anymore.
However, It didn't test the 1.11500 and went straight down to a 88.6 retracement and now pulling back up to possibly a Gartley pattern.
If I take my friend Ichimoku to the chart, he shows me a few things.
One is that the clouds are above price, but close to the actual price and not far away above (down trend). The lagging line is moving up and is in the clouds.
That Base and conversion line are still below clouds, but coming close together to crossover (one recent failure).
Which all indicates weak bullish signals, but no strong break outs or trend continuation up. So good chance we move up and then go straigh down again as it is doing already for a while now between these levels.
All in all, I see a good chance of a Gartley completion here to go short on.
So this is my first time sharing an idea and using a thirt party side which plugs in trading view through there website. So there might be a good chance this Gartleyt was already spotted and posted on trading view.
So just for the fun of it. I was bored anyway ;p
Happy Trading !!