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Alexander_Nikitin
Nov 23, 2020 3:05 PM

gbpusd. at market gartley pattern Short

British Pound/U.S. DollarFXCM

Description

At market gartley harmonic pattern. Today is the terminal price bar. We expect a reversal to the downside within 3-5 days. If it happens the price is likely to reach the 0.382 and 0.618 of the AD. Price should not break the Potential Reversal Zone. Large expansion bars, gaps or tail-closes above the PRZ are the signs of a breakout. Long upside wicks with small bodies followed by red candles are the signs of a reversal. Trade smart. Good luck.
Comments
fktika69
Good stuff!
Alexander_Nikitin
@fktika69, thank you
Helena_FX
Good idea, but I would like to make a comment on this: "Long upside wicks with small bodies followed by red candles" well a similar chart formation on the Daily chart will almost - if not, reach the 0.38 level hence leave no space for placing any Short orders as the price might not go down to the 0.618 but continue up to 1.34.
Alexander_Nikitin
@HrystiK, A yellow box is a place for orders. If price moved far below it and there's no good risk reward ratio anymore than either wait for a pullback into the PRZ or skip the trade
MehdiAsgarisedeh
@Alexander_Nikitin, hi alex Thanks for the applied analysis I used
Alexander_Nikitin
@HrystiK, the chart itself shows how it should look like (one red candle confirmation is enough): prnt.sc/votlb6
Helena_FX
@Alexander_Nikitin, We already had the big red candle on the 4H chart, so I suppose this can be used as the confirmation?
Alexander_Nikitin
@HrystiK, Better stick to the identification timeframe
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