D leg completed right at daily support.. This give us a good risk and reward ratio
IF the price stops and show reversal candles at 101.69 then it will confirms the completion of the pattern
Failed to break below the trend line means high probability for dollar to recover.. Watch for 100.. Break below 100 will keep the downside momentum intact. Bullish momentum only valid after breaching 100.50.
Gartley potential setup IF the price did not break the black trend line.. Let's see how it plays..
There is a bullish divergence in 4H chart. There is a good risk and reward ratio if the position opened near support area
If the support holds then it will be a great trend continuation trade until reached 1.235 - 1.2400
Lets see how it plays
Just keeping record for my trading basis
A high probability trade if the pattern complete.. D point will be completed at 78.6 fib retracement and resistance confluence zone
I'm currently waiting for long entry after the price breaking the red dashed trend line
I saw a bullish gartley potential if the price broke the 1.24500 level
There is bearish gartley possibilities on H1.. watch out for high volatility movement
Bearish gartley on H1... Watch out for high volatility
Target 1 is at 38.2 retracement and Target 2 at 61.8 retracement.
Target 2 is at 1.225 target price area which predicted by many bank analyst recently
Possible bearish cypher formation IF the black descending dashed trend line was broken..
The D completion placed right at daily resistance and round psychological number 1.24..
If the bottom horizontal line holds then I will look for buying reasons in the lower time frames.
If the pattern completes then there is a high chance that the price will change its direction