A Bearish Gartley Pattern is forming on EURGBP.
1) Quite precise 0.618 retrace of XA leg at B
2) Equivalent AB=CD lands close to the 0.786 retrace level of the XA leg at point D
3) 1.272 projection of the "BC" leg lands almost on top of the 0.786 retrace of the XA leg.
Plan to short if there are signs of price rejection at Point D
All the elements point to an ideal Bearish Bat forming.
1) 50% retrace of the XA leg at B
2) 1.27AB=CD lines up close to 88.6% retrace level of the XA leg
3) BC leg projection of 2 also lines up close to the 88.6% retrace level of the XA leg
4) Additionally, previous high resistance zone also lines up close to the 88.6% retrace level of the XA leg.
Plan is to...
