Bearish Gartley + Bullish Bat : Pending Confirmation
As we start to look back into the historical movements of the chart, we see that our Bullish Gartley was indeed confirmed, but now we move on to more possibilities within the Euro Dollar. The first leg of our bearish gartley is seen after we hit our final 61.8 target in the much larger and overpowering bullish gartley into the lower high of the uptrend.
Let us then follow the price moves from A (1.08402), also the 61.8 retracement zone, down into the B (1.06494) completion of our pending Bullish Bat. We now have an XAB completion in both the Bullish Bat and the Bearish Gartley. We find resistance at the 61.8 (1.07710) level of the possible bullish bat which may in fact restrain us from moving into those higher highs of the Gartley at 1.09269. Consequently, if we continue to move upwards, the highest resistance level we will meet will be the 88.6 of the Bat at 1.08232
If the Gartley is completed at Target 2, we look for the ABCD harmonic after the 61.8 target is found at 1.07592, pulling back to the most recent resistance level at 1.08454, into the -61.8 completion at 1.06814
If the Bat is completed at Target 2, we look for the immediate rally off the demand zone into the 61.8 pullback into 1.06917
Watch out for news events, and stay accurate. God bless
Let us then follow the price moves from A (1.08402), also the 61.8 retracement zone, down into the B (1.06494) completion of our pending Bullish Bat. We now have an XAB completion in both the Bullish Bat and the Bearish Gartley. We find resistance at the 61.8 (1.07710) level of the possible bullish bat which may in fact restrain us from moving into those higher highs of the Gartley at 1.09269. Consequently, if we continue to move upwards, the highest resistance level we will meet will be the 88.6 of the Bat at 1.08232
If the Gartley is completed at Target 2, we look for the ABCD harmonic after the 61.8 target is found at 1.07592, pulling back to the most recent resistance level at 1.08454, into the -61.8 completion at 1.06814
If the Bat is completed at Target 2, we look for the immediate rally off the demand zone into the 61.8 pullback into 1.06917
Watch out for news events, and stay accurate. God bless
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