THE WEEK AHEAD: TREND CONTINUATION VIA BEARISH GARTLEY ON AUDUSDWe previously had a first signal that the short-term bullish moves (remember: we are heavily bearish on the daily time frame) could come to an end.
The arrow shows the close below the previous low. We therefore looking for a shorting opportunity on this pair which lines up in form of a bearish gartley pattern.
Beside the standard target 1 (38,2% oft C-D leg) I will trail half of the position to the lowest close at point C.
Stops have to go above X , according to your personal rules of engagement.
Have a great week of trading.
Felix
