GBPJPY Gartley pattern

Confirmations for Gartley Pattern
- A-B must touch 0.618 but cannot touch 0.786
- B-C must touch 0.236 but cannot exceed A (on this case its at 0.382 unified gartley )
- D completion at 1.272 (Trend Extension) or 0.786 from normal measurement
- First TP at 0.618 (Fibonacci from D-C)
- Second TP at 0.382 (Fibonacci from D-C)
- Third TP would be back to where it all started

Looking at 1000 pips long with this pattern after structures completes D


Good Trading.

Bình luận:

Trade stil valid, waiting for GBPJPY to confirm structure, this is a potential long term trade, price could still move upside before big move down, we are not trading the sell here.

In the image below we can confirm perfect pitchfork symmetry of the price action.

Giao dịch đang hoạt động:

Price make final move to complete gartley patern, price right at the point D

Bình luận:

GBPJPY price structure retesting 1.272 ext from previous impulse, right at the D point formation for this gartley pattern. Also we can see also how the pitchfork fibonel is been respected by price in the same area

Giao dịch đang hoạt động:

First Take profit hit, trade running +530 pips in favor, looking forward for the next tp at the 0.618 fibo

Giao dịch đang hoạt động:

Price move 500 pips up from our entry point and at the moment is making is pullback, pullback is expected to move right to he median line of our pitchfork and also to be the 0.618 area of retracement, this could be a good reentry zone. Profits look right to the upper line of our pitchfork

Giao dịch đang hoạt động:

GBPJPY +646 pips