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:
Breakout has happened. The bearish gartley works wonders. We can now see the bullish one be completed.
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.
Trade closed: target reached:
First target reached, 155 pips profit. We now move stoploss to breakeven at second position.