GBPNZD 4 Hour: Two Gartleys (Long and Short) and a Butterfly
(See the edit to Gartley #1 in the comment below)
Looking at the 4 hour chart there are two potential Gartley patterns setting up:
Gartley Buy Pattern (purple):
Buy @ 1.9870
Sell @ 1.9770 (SL) (Note the typo in the above chart)
Sell @ 2.0084 (TP)
Risk: 100 Pips
Reward: 210 Pips
After the Gartley Buy, we also see a potential Gartley Sell with the CD leg forming where the Gartley Buy completed assuming it wasn't invalidated by D exceeding X:
Sell @ 2.0114
Buy @ 2.0184 (SL)
Buy @ 1.9932 (TP)
Risk: 70 Pips
Reward: 182 Pips
If our potential Gartley Buy is invalidated by D exceeding X, watch for a potential butterfly if we get a reversal on the 1.217 retracement of XA:
Buy @ 1.9711
Sell @ 1.9690 (SL)
Sell @ 2.0084 (TP)
Risk: 21 Pips
Reward: 373 Pips
Looking at the 4 hour chart there are two potential Gartley patterns setting up:
Gartley Buy Pattern (purple):
Buy @ 1.9870
Sell @ 1.9770 (SL) (Note the typo in the above chart)
Sell @ 2.0084 (TP)
Risk: 100 Pips
Reward: 210 Pips
After the Gartley Buy, we also see a potential Gartley Sell with the CD leg forming where the Gartley Buy completed assuming it wasn't invalidated by D exceeding X:
Sell @ 2.0114
Buy @ 2.0184 (SL)
Buy @ 1.9932 (TP)
Risk: 70 Pips
Reward: 182 Pips
If our potential Gartley Buy is invalidated by D exceeding X, watch for a potential butterfly if we get a reversal on the 1.217 retracement of XA:
Buy @ 1.9711
Sell @ 1.9690 (SL)
Sell @ 2.0084 (TP)
Risk: 21 Pips
Reward: 373 Pips
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