Gartley 222 SELL + Butterfly SELL on H4 (not shown here)
If this zone does not get breached cleanly by some sort of impulse move, expect the Gartley 222 SELL to be valid and SHORT with initial targets at:
TP1/38.2% = 1.03767
TP2/61.8% = 1.03022
Note that the RSST zone is where the OP (fib projection 100% from the Gartley's inner ABCD structure--Objective Profit level to use DiNapoli's terminology), pivot resistance 1, and previously broken bottom of uptrending channel all converge.
Also, Williams's AO indicator is showing that market sentiment for further bullish action has started to wane despite the 2 latest white candles. Of course, this isn't a sure sign that now is the time to short. However, the appearance of a bearish Gartley 222 is finding some underlying confirmation in the AO indicator that it hasn't gone unnoticed by traders.
Finally, note the position of the pivot point and pivot support 1.
TP1/38.2% = 1.03767
TP2/61.8% = 1.03022
Note that the RSST zone is where the OP (fib projection 100% from the Gartley's inner ABCD structure--Objective Profit level to use DiNapoli's terminology), pivot resistance 1, and previously broken bottom of uptrending channel all converge.
Also, Williams's AO indicator is showing that market sentiment for further bullish action has started to wane despite the 2 latest white candles. Of course, this isn't a sure sign that now is the time to short. However, the appearance of a bearish Gartley 222 is finding some underlying confirmation in the AO indicator that it hasn't gone unnoticed by traders.
Finally, note the position of the pivot point and pivot support 1.