FX:GBPAUD   British Pound / Australian Dollar
A unified gartley is about to complete. It is seen by wpr(14,-20,-80), cci (14,100,-100), rsi (5,70,30), stoch (5,3,3,80,20), prex(12) and atr(30,2.5) swing identification algorythms. Oscillator wave confirmation algorithms (wpr, cci , stoch and rsi ) are frequently used by Ellioticians, price-only swing identification algorithms (atr, pips and percent change) are commonly used by classic chart pattern traders and prex algorithm is a universal algorithm used by the majority of traders.

As a general rule a pattern with these ratios (B-point is 0.6 and C-point is 0.524) has a hiher probability to break the X-point than to reverse at 0.786XA or 0.886XA. Besides, the pattern is pretty obvious because more than one algorithms detect it.

I'd personally stay on the bearish side in this situation.

Disclaimer: this idea demonstrates my approch, it is not a trade signal for you.
This pattern was found by the MPS-v5.5 pattern recognition software: https://mps-trade.com

My YouTube channel: https://www.youtube.com/user/alexniquitos/
I think we have more room to move downward

+2 Reply
@AidanMDang, nice.
+1 Reply
you are welcome to leave your comments here. Positive feedbacks or constructive critisism is appreciated
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out