Bearish Gartley pattern in EURUSD
Updated
A bearish gartley pattern is forming in EURUSD. Note that there is a resistance trend line near 1240 and a strong cluster area in 1250-1265 that make the pattern more probable.
sell point: 1240-1225
targets: fist: 1200 and then 1160
stop loss: 1265
sell point: 1240-1225
targets: fist: 1200 and then 1160
stop loss: 1265
Trade active
Well, our first target at 1200 is met. 30-40 pip.Risk aversions can have a take profit here, and those who are more risky can let their positions be open for 1160 target, but they must modify SL to lower points for risk management.
note that there is some supports in the descending way toward next target that are visible on the chart and you must consider them for your GARTLEY trading!
Trade closed: target reached
EURUSD at 1168. very close to 1160. Target almost reached and this is power of bearish Butterfly in a downtrend channel!Good luck!
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