Touching the backside of the up trend line. If it fails it will head down to 1.618. If it penetrates the trend line it should continue bullish to the downtrend line - there is a missed pivot at 2.0105 and a weekly pivot at 2.0115 which it may want to hit if it penetrates the uptend line. Looking for crown/head and shoulder formation on smaller TF for possible...
Wait for Retest Neckline !!! RSI OVERSOLD STOCHASTIC OVERSOLD
I originated this setup on the way past the .618 fib, first leg of the resulting GARTLEY - - now stay short to 2.00 even
Short setup completion @2.01 area, stops to go above 2.0168
(See the edit to Gartley #1 in the comment below) Looking at the 4 hour chart there are two potential Gartley patterns setting up: Gartley Buy Pattern (purple): Buy @ 1.9870 Sell @ 1.9770 (SL) (Note the typo in the above chart) Sell @ 2.0084 (TP) Risk: 100 Pips Reward: 210 Pips After the Gartley Buy, we also see a potential Gartley Sell with the CD leg...
I GOT THE FIRST GARTLEY PATTERN, NOW I'M SEEING THIS SETTING UP. UPON COMPLETION OF THE 61.8 OF THE GARTLEY, I'M EXPECTING A 38.2 PULL BACK. HOWEVER I ALSO SEE A POSSIBILITY OF A FURTHER MOVE DOWNWARDS SINCE OUR LARGER STRUCTURE NEVER TOUCHED ITS 38.2 PULLBACK, SO A REVERSAL CAN MEAN A MOVE DOWN TO THIS LEVEL. THE OTHER SIDE OF CONFUSION LIES A CYPHER PATTERN...