Hi Traders,
After my analysis on this pair, I have noticed we have a potential bearish Gartley setting up at 1.7000. What makes this more interesting is we previously had a head & shoulders pattern which broke and closed below the neckline, price than retraced back up to the neckline and still failed to retest the low at 1.6713. Due to this reason my secondary targets will be for the retest of the low at 1.6713. For traders who want to take the conventional targets than your targets will be at 38.2 & 61.8, stops above X.
I urge you to take this analysis as educational purposes only and to trade this Advanced Pattern if you have backtested and now the overall performance of this strategy.
After my analysis on this pair, I have noticed we have a potential bearish Gartley setting up at 1.7000. What makes this more interesting is we previously had a head & shoulders pattern which broke and closed below the neckline, price than retraced back up to the neckline and still failed to retest the low at 1.6713. Due to this reason my secondary targets will be for the retest of the low at 1.6713. For traders who want to take the conventional targets than your targets will be at 38.2 & 61.8, stops above X.
I urge you to take this analysis as educational purposes only and to trade this Advanced Pattern if you have backtested and now the overall performance of this strategy.