CAD/JPY bearish Gartley pattern

27 thg 11, 2017

On the 4 hour chart, the pair is in a downtrend and has reached the potential structure zone. Also, the market has stopped making lower lows/lower closes on the hourly timeframe and therefore we're now technically in consolidation (on the H1) with anticipations of going up. There's also a potential bearish Gartley forming resulting in a good opportunity to go sell in the short run. Stops are placed above the upper line of the hourly consolidation. Profits are kept conservative as it is expected of the market to go up in the longer run.