Short CADJPY: Gartley + Crab + Trendline

CADJPY is nearing the PRZ of two confluent harmonic patterns: bearish Gartley and bearish Crab. The PRZ could potentially be aided by the resistance of a 6 day trendline. First target is placed at the .618 retracement of the Gartley CD leg. If price action continues to show bearish signals after breaking the BAMM line, I will be looking for continued downward movement toward the completion of a larger bullish bat (Target 2, point D).

Confluence in the PRZ:

• Bearish Gartley pattern completion
  
• Bearish crab pattern completion
  
• 6 day trendline resistance
  

Thank you for viewing and please don't forget to take a second to click the thumbs up button and follow for future updates and more trade ideas!

Transaction en cours:

Price came within a few pips of entry so I opened a sell trade. Trade is active.

Trade fermée: cible de profit atteinte:

T1 Achieved - Move SL to B/E

Commentaire:

Second half of this position is still open with SL at breakeven. Bearish Wolfe Wave setup complete, may drag price down to target: