Drawing Supply and Demand zones we can see a clear small bear trend for the intraday. If you are looking to short, it would be ideal to wait for a retest of the last supply zone. Entering around 1.55945 with a SL near 1.561 within 10 and 20 pips of your entry. Targeting to take profit near support at 1.555
A potential long opportunity at the completion of a bullish gartley which is at the 1.272 extension of the AB leg.
Stops need to go below X. TG1 is at the 0.382 retracement from A to D. TG2 is at the 0.618 retracement from A to D
A potential short opportunity at the completion of a bearish cypher which is the 0.764 retracement of the XC leg.
Stops need to go above X. TG1 is at the 0.382 retracement from C to D. TG2 is at the 0.618 retracement from C to D
A potential short opportunity at the completion of a bearish cypher which is the 0.764 retracement of the XC leg.
Stops need to go above X. TG1 is at the 0.382 retracement from C to D. TG2 is at the 0.618 retracement from C to D
A potential long opportunity at the completion of a bullish bat which is the 0.886 retracement of the XA leg
Stops need to go below X. TG1 is at the 0.382 retracement from A to D. TG2 is at the 0.618 retracement from A to D
A potential short opportunity at the completion of a bearish cypher which is the 0.764 retracement of the XC leg.
Stops need to go above X. TG1 is at the 0.382 retracement from C to D. TG2 is at the 0.618 retracement from C to D
A potential short opportunity at the completion of a bearish bat which is the 0.886 retracement of the XA leg
Stops need to go above X. TG1 is at the 0.382 retracement from A to D. TG2 is at the 0.618 retracement from A to D
A potential long opportunity at the completion of a bullish cypher which is the 0.764 retracement of the XC leg.
Stops need to go below X. TG1 is at the 0.382 retracement from C to D. TG2 is at the 0.618 retracement from C to D
A potential short opportunity at the completion of a bearish gartley pattern.
To have a valid gartley pattern I look for a 0.618 fibonacci retracement of the XA leg which is the point B.
Then I need at least a 0.618 fibonacci retracement from the AB leg but not beyond point A. This gives me the point C.
At last I look for entry at the 1.272 fibonacci extension...
In order to recover from my loss on USD/CAD, I have found a Gartley pattern in the market at around 1.20090. this pattern looks pretty strong and i predict that the market will reverse to the 1.618 extension of the BC leg of the Gartley pattern. I have placed my short as high as I would consider the pattern effective, and my stop at the top of the Garltley...
