Judging from recent PA, I have to bring back the Gartley. As always, as a trader, all possibilities must be considered. Only thing we can do is react to the price action. But what there must be is points at which you know you are wrong and then must decide what your next plan of action should be.
On this chart, I have marked where that point is. Should PA break that point, then all bet are off and must wait to see what will happen next. IN my original post on this pair, I noted that if prices did fill that Gartley, that would be a nice place to take long positions. That assumption still holds. As well as the assumption that there will be a move up at some point much before there will be any significant move down.
Saw the 1.089* break, just waiting on official close below that to confirm the Bull Gartley.
This could be exciting.
Good work
EverythingForex
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Yep, thanks. But now will just need to wait on it and see what happens. If it does reach there and complete the Gartley, then hopefully, that will mark the end of the wave 2 retracement and mark the beginning of the wave 3 up into the bearish butterfly. But I'll be prepared if prices keep dropping. I don't see it happening. Especially now. Given that the ADP Employment Change is due and then the NFP in a couple of days...
EverythingForex
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Exciting enough for you? ;-) Hope you got on board!
TradePeriod
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Haha! Was just thinking about this post the other day. Very exciting indeed. What are you thinking of in terms of the end of the Bearish Gartley? Retrace back down to 1.08 within the next month (possible Sept hike?) or continuation upwards towards 1.16-7?
This could be exciting.
Good work