2018Jun10 USDJPY H4 Possible Bearish Gartley

There is a possible bearish Gartley for USDJPY. Upon D completion at 110.694 (78.6 of XA) and confirmation of the bearish bias, I will go short. Take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg AD and point A. The stop loss has the same number of pips as TP1 by default. Tentative details are as follows:

Trade Setup: Possible Bearish Gartley
Price Entry 110.694
SL 111.680 | SL pips 98.6
TP1 109.708 | TP1 pips 98.6
TP2 109.098 | TP2 pips 159.6
TP3 108.112 | TP3 pips 258.2
RRR1 1.00 | RRR2 1.62 | RRR3 2.62

Trade active:

I considered rejection at D completion in H4 and H1 time frames as confirmation of the bearish bias. My sell limit order at that level was triggered.

Comment:

TP1 hit!

Comment:

SL hit! Moved the SL of trades 2 and 3 to breakeven. (June 21)