This idea gets invalidated very quickly if we lose the C position and go lower but I think traps are being laid for both bears and bulls with a bearish gartley potentially taking us up to 12200 areas hurting many bears on the way up before euphoric bulls get heavily dumped on all the way down to 8500.
As I said, this idea gets invalidated quickly but if we start...
EURUSD is still on the bullish run on the daily chart. A bearish Gartley pose a counter-trend trading opportunity.
On the 1-hour chart, it does form a buying opportunity for traders who are looking for aggressive entry.
On the right, the daily chart, a bearish gartley setup as a counter-trend trade but on the left contrary it's a trend trading opportunity for the bearish setup.
It's great as a third-chance entry for traders to short however I would very much discourage that thought for 2 reasons:
1) Target 1 for the bearish shark setup has been hit, and;
2) it looks pretty much...
EURUSD on all 3-timeframe is showing a bullish trend. On the daily chart(right) does pose a selling opportunity.
I'm waiting for a double bottom for further confirmation for a buying opportunity on the 4-hourly chart(left).
Bearish Gartley setup within sell zone as a trend trading setup. I will be waiting for a retest to engage the trade. Do note multiple JPY related pairs shows and produce a selling opportunity.
Have a look into your thought process to see if your trading rule forbid you to do so.
Short term this is a bearish analysis, long term, I'm rather bullish on Bitcoin BTC from the the $9,500 region but it may be a while before we get there.
So far we've completed the first and 2nd wave of what appears to be a bearish gartley forming, ending in the low $13,000 region. This would put a target down to the $9,500 region.
My gartley is invalid if we do...
GBPJPY is on a bearish trend. Gartley Pattern happens on both time frame having a 4-hourly chart as a bearish Gartley setup and 1-hourly chart, a bullish Gartley pattern as a counter-trend trade.
How many trading opportunities within this trading analysis?
What's your trade plan on this?
Comment down below.