NZD/CAD: Down to the trendline with possible bearish Gartley
This possible bearish Gartley might take us down to the lower trendline.
Near rate confluence of the .786 ret. of CD and the 1.27 ext. of AB gives us a possible PRZ.
SL above X.
Possible targets:
- TP1: 61.8 retracement of CD (50-60%)
- TP2: 127.2 extension of CD + some margin (20-30%)
- TP3: projected XA from D + some margin (10%)
- TP4: NOT fixed: where PA touches the trendline (10%)
The sudden spike just now could signal an early decline but my orders are set so I'm publishing this anyway.
It does not invalidate my setup
Near rate confluence of the .786 ret. of CD and the 1.27 ext. of AB gives us a possible PRZ.
SL above X.
Possible targets:
- TP1: 61.8 retracement of CD (50-60%)
- TP2: 127.2 extension of CD + some margin (20-30%)
- TP3: projected XA from D + some margin (10%)
- TP4: NOT fixed: where PA touches the trendline (10%)
The sudden spike just now could signal an early decline but my orders are set so I'm publishing this anyway.
It does not invalidate my setup
Trade closed: stop reached