Potential bearish butterfly

FX:EURUSD   Euro / U.S. Dollar
627 12 16
I'm looking for an entry at the completion of a potential bearish butterfly .
My stoploss would be just a few ticks above the 1.618 extension . And I'm aiming for B as my first target ( 38.2% retracement ) and a retest of the broken downward channel ( 61.8% retracement )
It has almost reached the 1.272 extension at 1.3972, so keeping an eye on a possible correction down from here.
Looking for a break below 1.3685 now to add to current short position.
I think I've missed the ride.. Nice play mustard
I thought i missed it. But i also forget i still had my orders at 1,3850. Now i'm in the game shorting this pair.
mustard Mikoxl.
I took a small profit but got stopped out and reversed when the previous resistance at 1.3831 was taken out yesterday.

This is the 5th consecutive bull week and price has now broken above the previous high so a clear break above 1.39 will keep me long.

Of course, the Gartley is busted, however I still have a potential bearish butterfly drawn on my weekly chart, with the CD leg completing at 1.3972, which is the 1.272 extension of the XA leg.

Let's see what pans out next week.

Good luck.
The potential bullish Gartley forming on the daily is still on, with the BC leg having just broken up through the 0.786 correction of the XA leg.

Based on current PA, I have entered shorts at 1.3820.

Price hit the 1,3810, but I'm not shorting this pair yet because I'm' waiting for more conformation (double top/rsi divergence).

Also, I redefined the PRZ with the following:
- a the potential three drive pattern upwards at around 1,3850

- this pattern lines up with an inverted extension of the 1,618% extension of the prior intermediate
Looks promising to me.

This complements the possible bullish Gartley forming on my daily chart, which starts with the XA leg commencing at the Nov 2013 low.

Of course it is too early to say whether this pattern will emerge, but I do like the convergence of your CD leg completion with my CD leg start.

I will be looking for a short entry similar to yours, but perhaps a little higher because of the probability of another retest of the previous resistance around 1.3830.

If the Gartley starts to take shape then primary target would be 1.3695, with other targets down to 1.3420.

A break above 1.3900 would take me long, looking for an older target at 1.4027.
Nice trade idea mustard. So if I understand you correctly, you are taking the Gartley C point "aggressively".. with a failure of the butterfly as your risk.
mustard Mikoxl.
Exactly that.
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