A potential bearish gartley may be on the verge of completion within this ranging market. We are generally moving sideways both on the 4 hour and daily timeframes which provides as ideal harmonic pattern trading conditions.
First, if this pattern completes we have fib extension and retracement confluence with 1.272 and 0.786 lining up. There is AB=CD pattern confluence as well as strong structure resistance where price has rejected many times forming a double top. We also have previous resistance at the same level as our PRZ as well as resistance at our second target level. RSI divergence/overbought conditions would add to our string of confluences for short entry.
Targets at 0.382 and 0.618.
First, if this pattern completes we have fib extension and retracement confluence with 1.272 and 0.786 lining up. There is AB=CD pattern confluence as well as strong structure resistance where price has rejected many times forming a double top. We also have previous resistance at the same level as our PRZ as well as resistance at our second target level. RSI divergence/overbought conditions would add to our string of confluences for short entry.
Targets at 0.382 and 0.618.
