After price actions recent spike to the upside price has been in consolidation (trading sideways) and in doing so is forming a bearish Gartley pattern (D Leg completion at 1.28832) if price can reach that entry point (at the moment looks like its ran out of steam!) will be taking 2 positions
Stops 1.29443
Entry 1.28832
Target 1 : 1.28000
Target 2 : 1.27500
With Bitcoin making all time highs recently, a lot of the altcoins have been taking a hit. On the daily chart, Ark has bounced from the 200 EMA, and that was the event which formed our point BC. Overall for Ark the future is bright, but once our targets get hit, i'm expecting a short opportunity, unfortunately there are not many exchanges that support margin...
As shown in the chart, a potential bearish gartley pattern is forming. The D point is also inside of the resistance structure.
E: 1.3290
SL: 1.3345
TP1: 1.3202
The SL is a little high by using exact Gartley pattern rule. The risk/reward ratio is only 1.56. So if you know how to read candle to find better way to enter around the D point, such as inside bar...
1 hour gartley pattern heading to D LEG COMPLETION. just my personal analysis. i know the B LEG is to ideally hit 61 fib but i have traded the pattern from a 50 fib b leg before hence the reason i say just my own analysis.
You have a potential bearish Gartley setting up on the GBPJPY. This will complete at 149.630. Minimum stops need to be above X, with target 1 at a 38.2 retracement and target 2 at a 61.8 retracement.
As always, make sure to follow your plan.
Good luck and good trading
I rarely trade AUDNZD. Looking at the 4H AUDNZD, I'm watching the pot development of a bearish Gartley, though.
This is not a trading recommendation, but is meant for personal practice and posterity. Please ensure your own due diligence.
I intend to watch for D Leg completion to enter a short position with profit targets on fib levels.
Happy trading.
whach for the old trend support line break at 3.67 very important
if it works it will reverse to 38.8% fib at 3.687 and later 61.8% fib at 3.708
if like my idea please like @ comment
