"Possible bullish gartley pattern".
Have been eyeing on this pair since BC leg is formed(88.6 retracement of leg AB). Patiently waited till it broke my TL 1. Then retest it and stays under both TL 1 and 8 EMA line on daily chart. Looking for confirmation on 4H chart and entered SHORT on this pair at 1.1165 after price close below 200 EMA and 8 EMA cross with 200 EMA, both on 4H chart.
TP 1 is at 1.1050, confluence of 61,8 retracement line and my TL 2, along with nearest minor support.
TP 2 is at 1.0666, confluence of 1,272 retracement of leg BC and my TL 3 where Bullish Gartley Pattern will be fully formed then ill see what price action is doing down there. This is a long term position, I will see what price action will do at TP 1 to enter this position.
SL for my current position is around 1.1230, not a fixed one but ill see what price action is doing there and decide whether to close the position or not.
Have been eyeing on this pair since BC leg is formed(88.6 retracement of leg AB). Patiently waited till it broke my TL 1. Then retest it and stays under both TL 1 and 8 EMA line on daily chart. Looking for confirmation on 4H chart and entered SHORT on this pair at 1.1165 after price close below 200 EMA and 8 EMA cross with 200 EMA, both on 4H chart.
TP 1 is at 1.1050, confluence of 61,8 retracement line and my TL 2, along with nearest minor support.
TP 2 is at 1.0666, confluence of 1,272 retracement of leg BC and my TL 3 where Bullish Gartley Pattern will be fully formed then ill see what price action is doing down there. This is a long term position, I will see what price action will do at TP 1 to enter this position.
SL for my current position is around 1.1230, not a fixed one but ill see what price action is doing there and decide whether to close the position or not.
