Hello traders here we have two potential trades in the making. First one is to buy off the bounce of trendline
below which could form an ab=cd
formation further developing into a gartley
. As we can see that price could not make a higher high but a low high so there might be some more decline in price before it goes further up. There are two possibilities now. First one is that the price might drop down and form the bc
leg of an ab=cd
pattern which would lead into a gartley
since most gartley
patterns have a an ab=cd
pattern in the there cd legs. first trade setup would be to buy from the bottom and targets and stops are shown in the chart. Second possibility is that the price might continue going higher without coming down and we can see from the completion of the gartley
where also lies a fresh supply area.
My strategy is to buy off the bounce from the bottom and sell from the top.