Double Top, Gartley and ab=cd

Dec 4, 2014

If the B retracement @ 119.90 is closed above before the C retracement is closed below @ 119.65 is the only way this scenario can happen. Also, I adhere to Carney's statement that the ab=cd is the most important part of the Gartley Pattern, which is why I'm ignoring the .786 retracement of the XA leg. It is most interesting to see a Gartley complete at the start of the XA leg. Most likely to do with the .382 retracement of the AB leg. Also, I wouldn't be too generous with my stop loss since it is a long term high and the pair has made some pretty good moves lately.

Good Trading.