Price has put in a lower low, lower close on the daily chart, which gives me a bearish bias.
The C-leg of a potential bearish gartley is complete, and I'm now waiting to see if price reaches the D-completion for a shorting opportunity in the direction of the overall trend.
Given that the B-leg retraced as far as it did, the risk/reward on this one is fairly decent for a gartley.
I use a 1.13 fibonacci inversion for stop measured from X to A.
Remember to conduct your own analysis before placing any trade.
The C-leg of a potential bearish gartley is complete, and I'm now waiting to see if price reaches the D-completion for a shorting opportunity in the direction of the overall trend.
Given that the B-leg retraced as far as it did, the risk/reward on this one is fairly decent for a gartley.
I use a 1.13 fibonacci inversion for stop measured from X to A.
Remember to conduct your own analysis before placing any trade.
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The pattern is now invalid.
