The Bearish Gartley structure is principally identified by a 0.618 B point retracement of the XA leg. This happened at 0.98146.
The other elements of the pattern are—
the AB=CD which will occur at D = 0.98772,
the 1.618 BC projection at D = 0.98385, and
the 0.786 retracement of XA at D = 0.98421.
They should converge within close proximity of each other to define the PRZ.
As a matter of fact, the price touched the level of 1.618 BC and turned sharply... However, it is expected that in a Gartley the price test all the levels that define the PRZ. So let's wait till the price cross 0.9842 and maybe go till 0.9877 and then open a short position.
The other elements of the pattern are—
the AB=CD which will occur at D = 0.98772,
the 1.618 BC projection at D = 0.98385, and
the 0.786 retracement of XA at D = 0.98421.
They should converge within close proximity of each other to define the PRZ.
As a matter of fact, the price touched the level of 1.618 BC and turned sharply... However, it is expected that in a Gartley the price test all the levels that define the PRZ. So let's wait till the price cross 0.9842 and maybe go till 0.9877 and then open a short position.
