DanielParra99
Short

GBPUSD (Gartley Pattern) -1h Chart

FX:GBPUSD   British Pound / U.S. Dollar
Confirmations for Gartley Pattern
- A-B must touch 0.618 but cannot touch 0.786
- B-C must touch 0.236 but cannot exceed A
- D completion at 1.272 (Trend Extension) or 0.786 from normal measurement
- First TP at 0.618 (Fibonacci from D-A)
- Second TP at 0.382 (Fibonacci from D-A)
- Third TP would be back to where it all started

After Gartley is completed there could be some consolidation for bearish continuation towards -0.618, at this point i'll follow structure to confirm bearish continuation at that point.
Good Trading. -1h Chart
Comment: 1st has been reached
Comment: Price has reached 50% of the Gartley near it's second TP, at this point there can be some type of retracement. which would be perfect for this Cypher formation:
- A to B must touch 0.382 but cannot exceed 0.618
- B to C must touch 1.272 but cannot close below 1.414 (Trend-Based Fib Extension)
- C to D must touch 0.786 - 0.886 of X to C
- First TP at 0.618 of D to C (Fibonacci)
- Second TP at 0.382 of D to C (Fibonacci)
Good Trading. -1h Chart
Comment: Price reached exactly 0.786 for Cypher completion, we got a bullish impulse right away reaching it's second TP of the Cypher Pattern (0.382)
At this point price has completed to harmonic patterns and could form another one with some structure, i'll be following price.
Good Trading. -1h Chart
Comment: Deep Crab Pattern:
- A-B leg can retrace anywhere between 0.382 up to 0.618
- B-C leg can retrace 0.382-0.886 of AB leg
- C-D is an extension of up to 1.618 of XA leg
- Take profits at 0.382 and 0.618 (Fibonacci D-C)
- Third TP would be long term back to where it all started

Another pattern was formed reaching retracement 1.618 and -1.618 for a perfect resistance, we can price rejecting that area reaching deeps crab first TP. At this point price could still reach second TP or even further, i'll be following price.
Good Trading. -1h Chart
Comment: 2nd has been hit and even went a little further at retracement 0.236
Good Trading. 1h Chart
Comment: Price completed it's bearish movement retesting previous support (A from Deep Crab) and went bullish right away.
Good Trading. -1h Chart
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