Bearish Gartley
Trade Ideas Position: EURJPY GartleyTo some, this may not be valid formation but to me it is.
The new update of trading view causes some words can't be used so I apologise for that.
1 important note is that point C might have a deeper retracement and that will cause point D to be lower, there will be a post update if such happen.
I'm using this to engage the trade but not taking the convention targets.
Stops and Targets will be shared to my inner circle
DXY Wave analysisThe dollar index completed its bull cycle with 5-elliott waves.
It started its bear cycle with an impulse wave and is currently retesting its previous high.
Furthermore, it has formed a bearish gartley pattern in the due process.
Hence, we expect the index to face resistance here and resume its bearish move.
EUR/JPY on the edge with bearish gartley awaitingThis pair is at the edge of weekly support and doing sideways. Supporting with major players withdrawing from the shares recently and shifting to safe haven, a bearish gartley might play in soon. A breakout from the major support level is on the lookout as well.
EURUSD Bearish Gartley Pattern A bearish Gartley Pattern I will be monitoring into Monday morning.
We have some fib confluence with the 61.8% retracement from the most recent move down.
As this is with trend I will be looking for a 1:1 R/R which for the first half position off, which is just past the traditional targets of the 38.2%