Gartley+Evening Star+76.4% Fib Retracement= Sell
Here a simple trade set up:
The fail to reach the .8584 after break the uptrend line gives the idea that the recent movement to the .8554 was only a pullback to start a new down trend.
If you add here that we have a potential evening star (have to wait to the candle closes) and a gartley accomplished before that just at the 76.4% fib retracement of the firts down movement that broke the uptrend line ended, seems a pretty good trade setup.
Even more, the relationship between the actual minimum of the candle and the low of the low of the gartley makes a good risk reward relationship that we could take advantage of. At that level get the stops @ break even, and then wait to see if we can touch the decline target of the 127.9% of extension of the down trend movement at .8417
The fail to reach the .8584 after break the uptrend line gives the idea that the recent movement to the .8554 was only a pullback to start a new down trend.
If you add here that we have a potential evening star (have to wait to the candle closes) and a gartley accomplished before that just at the 76.4% fib retracement of the firts down movement that broke the uptrend line ended, seems a pretty good trade setup.
Even more, the relationship between the actual minimum of the candle and the low of the low of the gartley makes a good risk reward relationship that we could take advantage of. At that level get the stops @ break even, and then wait to see if we can touch the decline target of the 127.9% of extension of the down trend movement at .8417