Precision Trade Setup on AUD/USD with a Bullish Gartley Pattern
The AUD/USD is setting up for a potential reversal near a key harmonic "Gartley" formation. This advanced technical structure, combined with critical confluences, highlights an area of high-probability trade opportunities.
Strategy: Buy at the Reversal Point (D)
Rationale:
The harmonic Gartley pattern suggests a potential trend reversal near 0.628, aligning with a long-term trendline and a horizontal support zone (highlighted in purple). RSI indicates oversold conditions, and the TDI shows bullish divergence, reinforcing the case for a recovery. A significant risk-reward ratio makes this trade an attractive opportunity.
Trade Parameters:
Entry Zone: 0.628
Stop Loss: 0.657
Take Profit: 0.6457
Risk-Reward Ratio: 1:3+
While the technical setup is compelling, it is crucial to remain vigilant about price action in lower timeframes. Always confirm price action before entering a position.
Strategy: Buy at the Reversal Point (D)
Rationale:
The harmonic Gartley pattern suggests a potential trend reversal near 0.628, aligning with a long-term trendline and a horizontal support zone (highlighted in purple). RSI indicates oversold conditions, and the TDI shows bullish divergence, reinforcing the case for a recovery. A significant risk-reward ratio makes this trade an attractive opportunity.
Trade Parameters:
Entry Zone: 0.628
Stop Loss: 0.657
Take Profit: 0.6457
Risk-Reward Ratio: 1:3+
While the technical setup is compelling, it is crucial to remain vigilant about price action in lower timeframes. Always confirm price action before entering a position.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.