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KevinSinghDhaliwal
May 19, 2015 4:16 PM

GBPJPY GARTLEY STILL VALID 

British Pound/Japanese YenFXCM

Description

C LEG BASED ON STRUCTURE
Comments
moneymaking
Hey Kevin, just wanted to give some update on this pair. Currently we are seeing RSI (7,close) bearish divergence on daily time frame and the market is at previous resistance looking left. So any type of selling opportunity could be a good one. Good Luck :)
KevinSinghDhaliwal
Hi nice analysis, I agree I would be looking to sell this too
Rough Chart but lets see
moneymaking
Hey kevin, according to my rules, the C leg must NOT close beyond the 78.6% level, which in this case it did. So I would take this as an invalid Gartley pattern. Everyone has different rules for harmonic patterns, so don't take my word for it. If you know that your rules for harmonic patterns are profitable, then just follow your rules, that's it. Good luck mate :)
KevinSinghDhaliwal
Yea totally agree but based c leg on previous bottom in this scenario Lets see :)
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