ghrtrader
Short

Strong Bearish Gartley Pattern Forming

FX:USDJPY   U.S. Dollar/Japanese Yen
168 0 0
The reason i have stated a strong bearish gartley is the conflunce of the 0.786 retracement, 1.272 extension and the inverted 1.272 extension. This is formed a nice tight potential reversal zone which again has tight confluence with a completed AB=CD pattern
I have removed the XABCD and fibs for a clearer chart.

I would set stops above structure high on the chart. This would be a 2 contract trade with 1st target at a 1:1 risk reward, stops moved to break even once hit, and 2nd target which looks like possibly give you a 2:1 RR. These would be based on FIb retracements

Would be great to hear anyone else's view whether they agree or not?

Happy trading!
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out