Loonie 240 min chart draws into our attention a well confirmed short entry possibility
1-SIGNAL OF PATTERN AB=CD IN THE TIME H1 2-SIGNAL OF PATTERN AB=CD IN THE TIME DAILY GOODLUCK.
Here we have a Gartley pattern near completion. D leg needs to complete at a 1.27% in order to see a bearish Gartley pattern completion according to my rules. We will also have an ABCD pattern completion which adds to make it a valid Gartley pattern. Stops Above X TGT 1 0.382% TGT2 0.618%
looking at previous Price range, we can see it has broken the channel and is now heading for a retest of that level ( blue line). Because we're in a long term bullish trend, chances are we will see a bounce at that level, as we will also have a finished bullish gartley pattern and a AB=CD if we would continue a little lower, not violating our X leg.
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...as a result of my previous posts... Testing trend line for second time; Again in similar conditions – overbought at trend line; We have upside AB=CD pattern and market already has passed its minor 61.8% fib extension. Minor bounce down is possible, but should not be too significant. Safe Trades
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