Price action can turn around at any price point between now and the blue point 'C' and then move up toward the blue 'D' to complete a bearish Gartley. If price action continues to fall beyond the blue 'C' to the pink 'C', it might turn around and move toward the pink 'D' to complete a bearish Cypher. Both patterns would complete around 1.11900, at which point I would enter short for a sharp drop. I intend to enter a quick long scalp when price action reverses toward 'D'.
Let's see if either patterns plays out.
This is not trading advice.
Let's see if either patterns plays out.
This is not trading advice.
Note
Looks like price action is favouring the Gartley. Lots of economic data expected for both currencies in the coming hours.Note
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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.