Been trading this down trend recently. I believe it will make a retracement which I will be trading before the eventual move down.
You can see the HH's and HL's and just broke through the 200 EMA on the daily (right) to confirm the downtrend.
Currently at previous support where I believe price will bounce back up to test previous support, (red line) now...
Bullish Gartley I have my eye on, on the 4HR NZDJPY chart.
There are decent fib cluster levels at D leg completion and structure there too. Also there is a good chance to reach TP if it retraces due to fib cluster at TP level (0.382 with 0.618)
ENTRY: 74.446
TARGET: 75.719
STOPS: 73.752
BEARISH BAT on the 4HR chart (pink)
BEARISH BAT on the Dailychart (blue)
if the bat on the 4hr chart doesn't workout and keeps climbing I will be looking for a reversal at the 91.57 mark for the daily chart.
Bullish Gartley on CADJPY 1HR Chart.
ENTRY: 83.536
TARGET: 84.517
STOPS: 82.756 (Just below previous structure at this level)
If this were to reach the D Leg, it would complete one other pattern.
If the Gartley would complete and reverse back up into a bullish move it would also be heading towards a D leg on another pattern.
I will attach the other 2...
Bearish Bat on 1HR EURCAD .
I believe we are about to break structure to the left and continue up for D leg completion and then return to the downtrend to perhaps retest structure for the beginning on a move upwards.
After the bearish gartley we had, we now have a possible cypher entry forming.
EMA's have also crossed now with the potential to move down although you must be careful if you wish to short the C-D leg as there is nothing to say this final leg will complete.
I am shorting the AUDCAD due to possible double top, RSI Divergence, Rejection on trend line structure and bearish rejection candle.
There was a retrace this morning that I was counting on aswell.
With FX:NZDUSD breaking its consolidation period, I believe we will be going to test a strong structure zone and will be trying to catch it on the way down.
RSI divergence supports this idea.
With higher highs, high closes, you could be aggressive and ride this one the way up too, until it reaches the structure zone.
Further analysis on the FX:USDJPY .
We can see the bearish gartley completing the final leg before what I think will be a quick retrace before we start moving up again.
We have had a higher high higher close this morning on the 6am candle which has broken the downward trend we have been seeing, breaking out of the wedge shape.
I've just started to learn elliot...
Gartley pattern forming on FX:USDJPY 60m chart.
Possible AB=CD pattern also forming.
To the left you can see we have broken downward trend.
FIB Confluence for D leg also there.
