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!
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