Mandeep.Singh
Short

Potential Bearish Gartley - NZD/JPY

FX:NZDJPY   New Zealand Dollar / Japanese Yen
26 2 5
We have another potential bearish Gartley setting up on this pair. What's interesting to note is that we have had 2 bearish gartleys within the last 2 weeks, all starting their formation at the X impulse leg EXACTLY 1 week apart. The current gartley setting up has also started it's formation at point X 7 days after the previous gartley starting point.

Limit orders set at the 1.272 extension of AB at which point the pattern should complete. Risk-reward ratio could be better but the trade looks like a high probability one with potential divergence and overbought conditions.
Trade closed: target reached: Clean.
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