Strong Bearish Gartley Pattern Forming
The reason i have stated a strong bearish gartley is the conflunce of the 0.786 retracement, 1.272 extension and the inverted 1.272 extension. This is formed a nice tight potential reversal zone which again has tight confluence with a completed AB=CD pattern
I have removed the XABCD and fibs for a clearer chart.
I would set stops above structure high on the chart. This would be a 2 contract trade with 1st target at a 1:1 risk reward, stops moved to break even once hit, and 2nd target which looks like possibly give you a 2:1 RR. These would be based on FIb retracements
Would be great to hear anyone else's view whether they agree or not?
Happy trading!
I have removed the XABCD and fibs for a clearer chart.
I would set stops above structure high on the chart. This would be a 2 contract trade with 1st target at a 1:1 risk reward, stops moved to break even once hit, and 2nd target which looks like possibly give you a 2:1 RR. These would be based on FIb retracements
Would be great to hear anyone else's view whether they agree or not?
Happy trading!