Price has put in a lower low, lower close on the daily chart, which gives me a bearish bias.
The C-leg of a potential bearish gartley is complete, and I'm now waiting to see if price reaches the D-completion for a shorting opportunity in the direction of the overall trend.
Given that the B-leg retraced as far as it did, the risk/reward on this one is fairly decent for a gartley.
I use a 1.13 fibonacci inversion for stop measured from X to A.
Remember to conduct your own analysis before placing any trade.
The C-leg of a potential bearish gartley is complete, and I'm now waiting to see if price reaches the D-completion for a shorting opportunity in the direction of the overall trend.
Given that the B-leg retraced as far as it did, the risk/reward on this one is fairly decent for a gartley.
I use a 1.13 fibonacci inversion for stop measured from X to A.
Remember to conduct your own analysis before placing any trade.
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Related publications
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.