GBP/AUD: Possible bullish Gartley
I've posted many idea's on this pair today, so if you want to get a complete pipcture please be sure to check all of them.
This one is a possible bullish Gartley that completes if the triangle gets broken to the downside. B is a bit above the normal 61.8% of XA but still rather close imo.
A breakout will often be followed by some consolidation or a re-test of the broken trendline so this Gartley is also in line with that scenario.
Because of the bearish breakout the upside could be limited so I would suggest taking at least 80%, if not the full 100, at TP1. But that all depends on your rules of course!
Please also check my idea on pattern targets which could convince you to take 100% at TP1 on most or all your advanced pattern trades...:
This one is a possible bullish Gartley that completes if the triangle gets broken to the downside. B is a bit above the normal 61.8% of XA but still rather close imo.
A breakout will often be followed by some consolidation or a re-test of the broken trendline so this Gartley is also in line with that scenario.
Because of the bearish breakout the upside could be limited so I would suggest taking at least 80%, if not the full 100, at TP1. But that all depends on your rules of course!
Please also check my idea on pattern targets which could convince you to take 100% at TP1 on most or all your advanced pattern trades...:
Trade closed: stop reached
