A very deep gartley pattern is possibly on the cards for next week on this pair. As it did not break the 78.6 retrace on leg A-B and also leg B-C did not break the 88.6 retrace i find this to be a valid pattern which follows my rules. with a very small stop loss required due to how deep this pattern is, this could be a great set up to keep an eye on for the next...
All info is on the chart. the regular divergence is on the 1 hour time frame, take profit is the conservative approach but can look for much lower targets. if the 1 hour candle is a lower low lower close candle I shall enter this trade:)
Price has broken the neckline and is now currently around the retest. Once the market opens I will be looking for my signals to enter this trade. If you take this trade use your own rules for entry/stop loss/take profit, this is just my view based upon my rules. happy trading and best of luck!!
P.S. if anyone wants to share their view on this then feel free to...
Price has hit the 4 hour trend line as well as being around a strong support area.
An engulfing candle has occurred on the four hour chart.
Oversold on the RSI and the Stochtastic indicators.
Small risk with a potential big reward