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Bearish Gartley

EURGPB - Daily - Potential Bearish Gartley PatternThe EURGBP has always been a horrible-looking chart in my opinion but in this specific instance, the tendency for it to consolidate & provide choppy movement may work in our favor. After a slow shuffle down to a level of previous structure support, price action has now given us a multiple leg potential pullback. If price were to continue pushing higher to the previous level of structure resistance then we would also have a bearish Gartley pattern which would provide an opportunity for a short-term sell. As always, if you have any questions, comments, or just want to share your ideas. Feel free to do som below. Wishing you a great weekend. - Akil
Short
by Akil_Stokes
3
Bearish Gartley (Daily)The Gartley Pattern , is a harmonic pattern discovered by H M Gartley and outlined in his book 'Profits in the Stock market', published in 1935. The pattern was further defined using specific Fibonacci levels by Scott Carney which he outlined in his book 'The Harmonic Trader', published in 1998. The pattern incorporates the 78.6% retracement of XA, as the defining element in the Potential Reversal Zone (PRZ). The B point must be at the 61.8% retracement of XA. The Gartley utilizes a minimum 127.2% projection of BC . In addition, the pattern should possess a distinct AB=CD pattern that converges in the same area as the 78.6% retracement of XA and the BC projection.
Short
by Cryptsyxalt
1
GBPUSD - Bearish Gartley - ShortFX:GBPUSD A bearish Gartley Harmonic Pattern has formed. We see a almost perfectly symmetrical AB=CD pattern forming inside a channel. High Risk: Enter trade one all levels of the Potential Reversal Zone have been reached. More conservative: Wait for a reversal candle on the daily/4H chart. Take profit 1 at 1.3129 (38.2% AD) Take profit 2 at 1.2949 (61.8% AD) Make sure to manage your trade properly, tighten stops and beware or possible reversals. A formation of a Shooting Star reversal candle on the daily chart will increase the conviction of the trade. Happy trading! Feel free to ask questions.
Short
by nadavhurwitz
Bearish Gartley ScenarioBTCUSD Minthly Harminic Gartley Pattern. We are not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature, and are therefore are unqualified to give investment recommendations. Always do your own research and consult with a licensed investment professional before investing. This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only.
BITSTAMP:BTCUSD
by CryptoTrend-Alerts
14