GBPJPY | Gartley pattern in the making?
- Point-B validated (?)
- Point-C must reach the 38. 2% retracement of AB leg but not exceed 88.6%
+ Ascending channel pattern indicates uptrend until it breaks the support
+ Stop loss is your friend
+ Take profit depends on your risk appetite
Harmonic Gartley Pattern:
Point-B | 61.8% of XA
Point-C | 38.2% - 88.6% of AB
Point-D | 78.6% of XA
PRZ | 127.2% - 161.8% of BC
- Point-C must reach the 38. 2% retracement of AB leg but not exceed 88.6%
+ Ascending channel pattern indicates uptrend until it breaks the support
+ Stop loss is your friend
+ Take profit depends on your risk appetite
Harmonic Gartley Pattern:
Point-B | 61.8% of XA
Point-C | 38.2% - 88.6% of AB
Point-D | 78.6% of XA
PRZ | 127.2% - 161.8% of BC
Comment:
Bearish butterfly instead?
- Point-B reached 78.6% retracement of XA