Potential bearish Gartley setup

2019년 6월 22일

If we push up to D completion zone then there's a potential Gartley pattern for a short. However, in that case, I need price to push slightly above the D point, so I can have a Risk/Reward ratio of 1:1, otherwise it'd be inverse and that'd invalidate the trade for me. There is an AB=CD equal-measured move completing at the D point, plus a crowded Fibonacci confluence (ABA & CBC which is a Fib inversion setup) in the same zone. Both the pattern completion point and the target is at previous structure.

Once price is up there, I need RSI to be overbought, so I can enter this aggressively, shooting for Target 1 only.

I'll be keeping my eye on this. If this plays out, that's about a 90 pip move.

60M chart
Target 1 at the 38.6% retracement of AD.
Stops at 113% inversion of AXA.

2019년 6월 23일

코멘트

(Correction: I wanted to write "38.2%" for Target 1)

2019년 6월 25일

코멘트

I'm no longer watching this as we didn't complete the pattern. However, we might have a bullish Gartley forming.