Summary of Confluences
Trade Setup Long Trade (Buy at C)
Key Confluences
✅ Fibonacci 0.618 - 0.633 Retracement (XA Leg)
✅ Weekly FVG Support
✅ Market Structure Pivot & Liquidity Grab
Short Trade (Sell at D)
✅ Bearish Gartley Completion (1.27 - 1.3 Fib Extension of BC)
✅ Anchored VWAP from ATH (Resistance)
✅ Bearish Order Block & Supply Zone
1. Long Trade Setup (From C to D – Bullish Move within the Gartley)
🔹 Trade Type: Counter-trend long (buy from C to D).
📌 Entry Criteria:
Buy at Point C (~0.633 Fib retracement of XA leg).
Stop Loss: Below A (~1 ATR buffer).
Take Profit Levels:
TP1: B (~0.642 Fib level of XA retracement).
TP2: D (~1.3 Fib extension of BC leg).
🔹 3 Confluences for the Long Trade:
✔ Fibonacci & Harmonic Confluence:
Point C aligns with the 0.618 - 0.633 Fibonacci retracement of XA.
This is a well-known harmonic reversal zone, increasing the probability of a bounce.
✔ Weekly Fair Value Gap (FVG) Support:
Price is filling a weekly FVG, a strong liquidity zone where buyers tend to step in.
Institutions may use this level for long entries.
✔ Market Structure Pivot & Previous Low Rejection:
The chart shows a first weekly lower low in a Market Structure Break (MSB).
Previous liquidity grab suggests a potential bullish reversal from this level.
2. Short Trade Setup (From D – Bearish Reversal at Gartley Completion)
🔹 Trade Type: Trend-following short (sell from D after pattern completion).
📌 Entry Criteria:
Sell at Point D (~1.27 - 1.3 Fib extension of BC leg).
Stop Loss: Above D (~1 ATR buffer).
Take Profit Levels:
TP1: B (~0.642 Fib level of XA retracement).
TP2: C (full pattern retracement).
🔹 3 Confluences for the Short Trade:
✔ Bearish Gartley Completion & Fibonacci Reversal Zone:
The Bearish Gartley pattern completes at D, a major reversal point.
The 1.27 - 1.3 Fib extension of BC historically acts as strong resistance in harmonic patterns.
✔ Anchored VWAP from All-Time High (ATH) as Resistance:
VWAP from ATH is acting as dynamic resistance, confirming institutional selling.
If price rejects off VWAP, this increases the probability of a downtrend continuation.
✔ Bearish Order Block & Supply Zone:
Point D aligns with a key Bearish Order Block (OB) where previous heavy selling occurred.
Historical supply zone suggests potential aggressive selling pressure upon reaching D.
Trade Setup Long Trade (Buy at C)
Key Confluences
✅ Fibonacci 0.618 - 0.633 Retracement (XA Leg)
✅ Weekly FVG Support
✅ Market Structure Pivot & Liquidity Grab
Short Trade (Sell at D)
✅ Bearish Gartley Completion (1.27 - 1.3 Fib Extension of BC)
✅ Anchored VWAP from ATH (Resistance)
✅ Bearish Order Block & Supply Zone
1. Long Trade Setup (From C to D – Bullish Move within the Gartley)
🔹 Trade Type: Counter-trend long (buy from C to D).
📌 Entry Criteria:
Buy at Point C (~0.633 Fib retracement of XA leg).
Stop Loss: Below A (~1 ATR buffer).
Take Profit Levels:
TP1: B (~0.642 Fib level of XA retracement).
TP2: D (~1.3 Fib extension of BC leg).
🔹 3 Confluences for the Long Trade:
✔ Fibonacci & Harmonic Confluence:
Point C aligns with the 0.618 - 0.633 Fibonacci retracement of XA.
This is a well-known harmonic reversal zone, increasing the probability of a bounce.
✔ Weekly Fair Value Gap (FVG) Support:
Price is filling a weekly FVG, a strong liquidity zone where buyers tend to step in.
Institutions may use this level for long entries.
✔ Market Structure Pivot & Previous Low Rejection:
The chart shows a first weekly lower low in a Market Structure Break (MSB).
Previous liquidity grab suggests a potential bullish reversal from this level.
2. Short Trade Setup (From D – Bearish Reversal at Gartley Completion)
🔹 Trade Type: Trend-following short (sell from D after pattern completion).
📌 Entry Criteria:
Sell at Point D (~1.27 - 1.3 Fib extension of BC leg).
Stop Loss: Above D (~1 ATR buffer).
Take Profit Levels:
TP1: B (~0.642 Fib level of XA retracement).
TP2: C (full pattern retracement).
🔹 3 Confluences for the Short Trade:
✔ Bearish Gartley Completion & Fibonacci Reversal Zone:
The Bearish Gartley pattern completes at D, a major reversal point.
The 1.27 - 1.3 Fib extension of BC historically acts as strong resistance in harmonic patterns.
✔ Anchored VWAP from All-Time High (ATH) as Resistance:
VWAP from ATH is acting as dynamic resistance, confirming institutional selling.
If price rejects off VWAP, this increases the probability of a downtrend continuation.
✔ Bearish Order Block & Supply Zone:
Point D aligns with a key Bearish Order Block (OB) where previous heavy selling occurred.
Historical supply zone suggests potential aggressive selling pressure upon reaching D.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.