AUDCAD bullish Gartley pattern setup
Hello all,
Bullish Gartley pattern setup on a 4h chart. In favor to the bullish Gartley, prices currently move in the potential pullback ending zones, at 61.8% and 70.7% of a previous uptrend swing seen at the attached daily chart. Also, the whole Gartley setup is positioned between two long-term S/R levels also seen at the daily chart.
Entry is placed at the D spot at 78.6% retracement of XA leg. Stop and Target (Target 3) are placed as per rules for the Gartley, stop below X and target placed at a level of a measured XA move from entry. Both stop and target are aligned with long term S/R levels.
More conservative targets may be placed at 61.8% or 127.2% retracements of CD leg. (Target 1, Target 2)
Here is a Daily chart snapshot.
Bullish Gartley pattern setup on a 4h chart. In favor to the bullish Gartley, prices currently move in the potential pullback ending zones, at 61.8% and 70.7% of a previous uptrend swing seen at the attached daily chart. Also, the whole Gartley setup is positioned between two long-term S/R levels also seen at the daily chart.
Entry is placed at the D spot at 78.6% retracement of XA leg. Stop and Target (Target 3) are placed as per rules for the Gartley, stop below X and target placed at a level of a measured XA move from entry. Both stop and target are aligned with long term S/R levels.
More conservative targets may be placed at 61.8% or 127.2% retracements of CD leg. (Target 1, Target 2)
Here is a Daily chart snapshot.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.