Short CADJPY: Gartley + Crab + Trendline
Updated
CADJPY is nearing the PRZ of two confluent harmonic patterns: bearish Gartley and bearish Crab. The PRZ could potentially be aided by the resistance of a 6 day trendline. First target is placed at the .618 retracement of the Gartley CD leg. If price action continues to show bearish signals after breaking the BAMM line, I will be looking for continued downward movement toward the completion of a larger bullish bat (Target 2, point D).Confluence in the PRZ:
- Bearish Gartley pattern completion
- Bearish crab pattern completion
- 6 day trendline resistance
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Trade active
Price came within a few pips of entry so I opened a sell trade. Trade is active.Trade closed: target reached
T1 Achieved - Move SL to B/ENote
Second half of this position is still open with SL at breakeven. Bearish Wolfe Wave setup complete, may drag price down to target:
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