USDCAD: Daily Gartley Pattern
USDCAD VIDEO (youtube.com/watch?v=AGXymWfe-XM) Obviously I'll be playing the sidelines today due to the Non-Farm release, but for you longer term traders, we've broken past our B leg which means it's time to pay attention to the bearish Gartley.
This particular pattern comes in at a very nice level of structure (looking left) where price consolidated in the past before a markdown. This doesn't mean that the level will hold again, we never know in trading, but it does show that the market has respected this level in the past, and as a pattern trader all you should be looking for is a brief pull back.
Good luck for anyone getting involved in this one.
Akil Stokes
Chief Currency Analyst at TradeEmpowered.com
Akil@Tradeempowered.com /AkilStokesRTM /
Forex Weekend Review Videos (Every Thursday):
youtube.com/playlist?list=PL3pkGkL2zWpHt7X4ZeT0w0n6hk0C8Lwx1
This particular pattern comes in at a very nice level of structure (looking left) where price consolidated in the past before a markdown. This doesn't mean that the level will hold again, we never know in trading, but it does show that the market has respected this level in the past, and as a pattern trader all you should be looking for is a brief pull back.
Good luck for anyone getting involved in this one.
Akil Stokes
Chief Currency Analyst at TradeEmpowered.com
Akil@Tradeempowered.com /AkilStokesRTM /
Forex Weekend Review Videos (Every Thursday):
youtube.com/playlist?list=PL3pkGkL2zWpHt7X4ZeT0w0n6hk0C8Lwx1
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