IPCALAB Bearish Gartley Pattern Setup
Updated
Previously on daily chart, it is been observed that the price action is ranging in a uptrending channel. Today, on hourly chart, there is formation of Bearish Gartley pattern has been observed which indicates selling pressure at 630 levels, where Bearish Pin-bar pattern is also observed. There is also a MACD crossover that to be noticed too. The above said factors indicating bearishness in the chart and It shall further move down.
Target 1: 603
Stoploss: 625
Target 1: 603
Stoploss: 625
Trade active
Correction: It is a bearish Butterfly patternTrade active
Price action breaking out 616 levels, now shall move to targets.Trade closed: target reached
Targets achieved successfully, RegardsTrade active
Analysis done for target 2, now shall reach to 596 levels. 
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