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Carlos_LL
Jun 14, 2016 2:36 PM

GARTLEY PATTERN FINISH ON EURUSD 4H Long

Euro Fx/U.S. DollarFXCM

Description

An odd looking Gartley but a Gartley nonetheless is finishing on EURUSD 4H chart. A Bounce on the .786 XA leg would also begin the CD leg of yet a larger Bearish Gartley. Structure lows provide good argument for LONG entry along with an RSI entering oversold levels. C point coincides with .382 retracement of AD leg and is also previous structure high giving a good T1.

A Shout Out to Akil_Stokes for pointing out the long entry levels.

Trade active

Trade is active.

Comment

Price action is reaching the .886 retracement and RSI is deep in oversold. This should begin its turn around, might be a good point to add to position.

Trade closed: target reached

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