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RaynLim
Nov 19, 2021 8:09 AM

GBPJPY - Bearish Gartley Short

British Pound/Japanese YenFXCM

Description

A Bearish Gartley Pattern forms within the double top retracement within the longer-term Bearish Trendline.

To sweeten the deal, the confirmation ends with a long shadow candle/pin-bar completing the Gartley Pattern.

The downside of this is that the RSI has not reach the overbought zone and the closing price of the long shadow candle can throw traders off the scale of Reward:Risk.

Trade closed: target reached

Target 1 : 153.88(+37)
Target 2 : 153.53(+78)
Total Profits: 37+78=115pips (approx. 1,150usd/lot traded)
Comments
lfhaa2016
Great analysis, what are the tp please
RaynLim
@lfhaa2016, sorry, I went out and didn't check my phone.
jamison_fx
Back into the buy zone
RaynLim
@jamison_fx, yeah.. Let's see how this trade roll for the coming week.
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