Bearish Bar completion on the 4 hour.
Both targets would've been reached.
I did NOT take this trade - just for reference as I'm trialling the 38.2 retracement of XA for my B leg (was previously only taking a 50% retracement.
Will continue to monitor this success rate and look to backtest this adapted strategy too.
Will wait for price action at 1.09662 level (double top, RSI divergence) before looking for a sell.
Otherwise, if price breaks through this level then I'm waiting for a sell at the 1.11146 level for a retest of the broken daily trend line and a 61.8 of the last impulse down.
Pending bullish garley on the 4H.
XA 78.6 & AB 1.272 with 61.8 retracement confluence with previous swing low to swing high creates good confluence price reversal zone.
Will await price action in this zone.
We are now in a confirmed downtrend on the daily after closing below previous swing high.
Wait for a retrace to 38.2 of the most recent swing low.
Current and HTF structure there.
38.2 retrace of larger swing high.
Wait for price action at this level marked in yellow box for entry signal to short.
Target per arrows.
Pending gartley on daily TF using 1.272 ext of AB
61.8 confluence of prior Oct to Nov 15 swing high to swing low
Plenty of higher time frame support / resistance.
Will look for RSI overbought / price action / double top on a lower time frame as we enter the PRZ.
Bearish Gartley completion at 1.272 ext of AB leg chosen as closer to X (78.6 retrace of XA was too far from this confluence).
HTF - 38.2 retrace of larger move
Previous minor and major structure support / resistance
Identified on 240 but on 60 minute there's bearish divergence on RSI and went oversold on previous (lower) high.
Stop loss at 1.13 of XA