Classic Gartley SELL Pattern Completed in GOLD. Reward/Risk = 6 500 Pips of Profit Potential.
(There is 81pips of risk with this trade. Take the trade at your own risk.) Note: This is not any kind of trading signal or advice. It should be noted that this is merely a trading idea of mine.
Comment
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!st trade idea cancelled. Price pushed too high. Waiting for an entry confirmation inside the upper highlighted zone in the chart for the possible sell opportunity.
Concerning your post your the pattern is wrong, the AB leg is between 38.2 and 50.0 which makes it a bat, crab or a butterfly, soothes CD leg should be 261.8 or 361.8 extension of BC.
This implies that the upward movement has yet to be completed
OlabanjiBabalola
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@OlabanjiBabalola, sorry butterfly is not among the expected patterns it is either bat or crab
Sankapathum
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@OlabanjiBabalola, Hello, Thank you for the comment. Actually the way I trade this patterns might be different than yours. I don't trade bats and crabs. I only trade classical patterns. So with the AB leg being between 3.82 and 5.00, and C point didn't go below the A point and the D point being between 0.618 and 1.0 retracement of the AB leg, it creates a valid Gartley 222 SELL pattern. If this pattern fails, it will turn out to be a Butterfly SELL pattern. This is the way that I have tested and verified that works. Let's see what happens...
Concerning your post your the pattern is wrong, the AB leg is between 38.2 and 50.0 which makes it a bat, crab or a butterfly, soothes CD leg should be 261.8 or 361.8 extension of BC.
This implies that the upward movement has yet to be completed