EURUSD - Gartley after Gartley
Updated
EURUSD has been trading in a sideways market for the past 2 months since it got supported at 1.15.
Straight to the point, a Gartley pattern is about to complete its point D near the bottom of the sideways market.
And coincidently just before this current Gartley is forming, another Gartley has completed.
Well, I don't really know what that means, but seems like overlapping patterns does boost confidence for a trade I guess.
There are 2 possible levels to go long which also means Gartley point D is most likely to be completed.
The first Buy Zone is at 127.2% of BC, a perfect AB=CD formation.
But on a closer look, there were 2 wide range bars right after BC leg was completed,
which could cause CD leg to extend further, and thus the consideration to long at 161.8% of BC.
Straight to the point, a Gartley pattern is about to complete its point D near the bottom of the sideways market.
And coincidently just before this current Gartley is forming, another Gartley has completed.
Well, I don't really know what that means, but seems like overlapping patterns does boost confidence for a trade I guess.
There are 2 possible levels to go long which also means Gartley point D is most likely to be completed.
The first Buy Zone is at 127.2% of BC, a perfect AB=CD formation.
But on a closer look, there were 2 wide range bars right after BC leg was completed,
which could cause CD leg to extend further, and thus the consideration to long at 161.8% of BC.
Trade closed manually
Gartley was completed ar FR78.6% and has reversed. Very good trading!
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