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...
Bearish Gartley completed on the Hourly Chart. Price reaction can be witnessed in the PRZ. Short levels initiated. A nice AB=CD within the pattern as required.
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.
Although the 4-hourly chart has a bearish Gartley setup, CADJPY seems more bias towards an uptrend movement(left) as it has a perfect trading opportunity on the 1-hourly aggressive bull flag setup.
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...
If the price continues to rise and reaches to ranges of 0.8993 - 0.8996, we expect it to return and bearish gartley pattern is complete and start the downtrend.
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.
EURUSD trend line broken
and rejected at 618 level once
there is a potential bearish gartley pattern
around 1.1397 will be a good area to short
SL : 1.1420
TP : Follow arrow
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