UPDATE #3: EURUSD: All Roads Lead to Wave 3. Re-Added Gartley

4 août 2015

Judging from recent PA, I have to bring back the Gartley. As always, as a trader, all possibilities must be considered. Only thing we can do is react to the price action. But what there must be is points at which you know you are wrong and then must decide what your next plan of action should be.

On this chart, I have marked where that point is. Should PA break that point, then all bet are off and must wait to see what will happen next. IN my original post on this pair, I noted that if prices did fill that Gartley, that would be a nice place to take long positions. That assumption still holds. As well as the assumption that there will be a move up at some point much before there will be any significant move down.