Possible LONG with Bullish Gartley Confirmation
It seems we have a possible trade going LONG on this pair, to 2x targets, based on the following:
Stochastic suggests over sold position for several days, on the hourly, suggesting an impending upward move next. Fibonacci measurement plus pattern/structure analysis suggests the same upward move before continuing downwards to complete a bearish wave 3 on the minor period.
Confirmation of this move has also been given with a Bullish Gartley pattern visible.
If target 1 area (resistance) is broken, there is a high probability that the upward move will continue until target 2 at the main resistance trendline, where in my opinion will be the downward continuation for wave 3 for a trade as a SHORT.
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk.
Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
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Stochastic suggests over sold position for several days, on the hourly, suggesting an impending upward move next. Fibonacci measurement plus pattern/structure analysis suggests the same upward move before continuing downwards to complete a bearish wave 3 on the minor period.
Confirmation of this move has also been given with a Bullish Gartley pattern visible.
If target 1 area (resistance) is broken, there is a high probability that the upward move will continue until target 2 at the main resistance trendline, where in my opinion will be the downward continuation for wave 3 for a trade as a SHORT.
----------------------------------------------------------------------------------------------------------------------------------------------------------
DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk.
Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
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