NZD/JPY - Bullish Gartley Pattern Forming (4H) Long

New Zealand Dollar/Japanese YenFXCM

Description

⋅ Apr 10, 2015 10:10 AM

An impressive looking bullish gartley pattern is forming on the NZD/JPY 4H chart.

- A/B: Price bounced nicely off .648
- B/C: Price fell pretty quickly at around .882

Finally, it looks like D will hit the mark at around 88.00, of which coincidentally is the .786 mark.

If price falls below .90, then I'm confident that the C/D leg will be completed.

What are your thoughts?

Comments

dionvuletich

⋅ Apr 10, 2015 11:30 AM

I agree.. on the daily the current candle looks as if it will form a berish outside day (not that I use them) so likely to go lower... there is also a lower level cluster around 88.00 at the 85.4% retracement as well but both levels are good, if it triggers I am planning to take profits at around 90.00 at this stage and also 92.998 at which point I will sell based on a longer term bat pattern