In a previous post i showed two harmonic patterns in the 4h chart. The bearish gartley which is working great till now has push price lower where is testing a key level. If you have a breakout at this point we should wait for a correction and then we will be able to go short for a possible big move to the down.
If the breakout happens we should see the start of the correction at the completion of a pending bullish gartley pattern.
You may see the patterns here:
If the breakout happens we should see the start of the correction at the completion of a pending bullish gartley pattern.
You may see the patterns here:
Comment:
Breakout has happened. The bearish gartley works wonders. We can now see the bullish one be completed.
Trade active:
We have the completion of the pattern. Most likely the correction has started. A massive bullish divergence with MACD and the breakout of CD wave give us an excellent setup.
Stoploss and profit targets as shown at the chart.
Stoploss and profit targets as shown at the chart.
Trade closed: target reached:
First target reached, 155 pips profit. We now move stoploss to breakeven at second position.