JoeNeilCarey
Short

GBP/JPY OFFERING BEARISH GARTLEY OFF 0.382 RETRACE?

FX:GBPJPY   British Pound / Japanese Yen
GBP/JPY             APPEARS TO HAVE POTENTIALLY COMPLETED A BEARISH GARTLEY PATTERN, WITH THE C/D LEG COMPLETING ON THE 0.382 RETRACE OF LONG TERM SWING LOW/SWING HIGH.

A SLOW DOWN ON APPROACH TO THE 0.382 RETRACE MAY OFFER UP A LOW RISK HIGH REWARD SHORT OPPORTUNITY, ALLOWING TRADERS TO JOIN NEWLY ESTABLISHED DOWNTREND AT A DECENT PRICE.

RSI IS ATTEMPTING TO PIERCE THE OVERBOUGHT MEDIAN LINE , AFTER HAVING PREVIOUSLY BOUNCED OFF THE 0.50 RETRACE - GBP/JPY             APPEARS TO BE RESPECTING FIB LEVELS IN THE SHORT TERM PERHAPS?

THE 188 LEVEL OFFERS REASONABLE STRUCTURAL RESISTANCE LEVEL , A PULLBACK TO 186.50's CANNOT BE RULED OUT.
Gartley's B-point should touch 0,618XA. If it doesn't then it's a Bat pattern. Typically gartley completes at 0,786XA or 1,272AB and bat completes at 0,886XA or 1,618AB. Your drawing is neither gartley nor bat. You are to name it somehow different. May be "Joe pattern"?
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