Hi guys, today we have a near-perfect gartley on the 1hr chart of the NZDCAD.
The pattern is just as well on the 4hr but price is very volatile and the movement can be more clearly justified in the 1hr. Now, as volatile a pair as we are presented with, price is consecutively making lower highs- which can be seen vividly on the 4hr and even daily chart (after the spike).
Digging deeper, if we move outward to the weekly chart, we can clearly see that the area between our X and D co-ordinates have proved to be key resistance in the past.
Bearish Gartley, lower highs and key resistance- in that order all across 3 timeframes. Look below to see the bigger pictures; I will post them in order from lowest to highest time frame. Minimum 1:2 R:R as always, I will be looking enter this as soon as the market opens. Praying for no gaps!
Gartley ratios:
B: 0.618
C: 0.382-0.886
D: 1.272-1.618
xD: 0.786
The pattern is just as well on the 4hr but price is very volatile and the movement can be more clearly justified in the 1hr. Now, as volatile a pair as we are presented with, price is consecutively making lower highs- which can be seen vividly on the 4hr and even daily chart (after the spike).
Digging deeper, if we move outward to the weekly chart, we can clearly see that the area between our X and D co-ordinates have proved to be key resistance in the past.
Bearish Gartley, lower highs and key resistance- in that order all across 3 timeframes. Look below to see the bigger pictures; I will post them in order from lowest to highest time frame. Minimum 1:2 R:R as always, I will be looking enter this as soon as the market opens. Praying for no gaps!
Gartley ratios:
B: 0.618
C: 0.382-0.886
D: 1.272-1.618
xD: 0.786
Comment:
