KyleMcQuade

NZDJPY Bearish Gartley

Short
FX:NZDJPY   New Zealand Dollar / Japanese Yen
Here we have a bearish Gartley on the NZD/yen. Price is approaching a trend line parallel to the top leg of a channel from the daily chart . Looking to take a short position with a reversal around the 75.3 price mark. Retracement levels are ideal for this pattern- the C point is below the close of price but still on the wick. As long as price remains on the wick and has not been surpassed by the body of a previous or following candle the pattern is still valid.

Gartley Ratios:
AB: 0.618
BC: 0.382-0.886
CD: 1.27-1.618
XD: 0.786
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