Possible Gartley pattern forming in 30min chart for the USDJPY might give us a probable path for USDJPY on Monday. Long then short if pattern is completed.
I appreciate any feedback
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I found two other possible paths for Monday... I like the purple one because the points of the pattern fit with a fibonacci time retracement. I find the blue one likely because of the 0.786 resistance level but the purple one is more harmonic. The green AB=CD pattern seems less likely to me since it wouldn't hit much of a resistance to make
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Correction: I found two other possible paths for Monday... I like the purple one because the points of the pattern fit with a fibonacci time retracement. I find the blue one likely because of the 0.786 resistance level where it is currently bouncing off of although it seems to have broken it. The purple one is more harmonic and proportionally correct. The green AB=CD pattern seems less likely to me since it would have to cross the support the USDJPY has encountered for the last couple of weeks. All three of them point to a bounce. We'll see.
I found two other possible paths for Monday... I like the purple one because the points of the pattern fit with a fibonacci time retracement. I find the blue one likely because of the 0.786 resistance level where it is currently bouncing off of although it seems to have broken it. The purple one is more harmonic and proportionally correct. The green AB=CD pattern seems less likely to me since it would have to cross the support the USDJPY has encountered for the last couple of weeks. All three of them point to a bounce. We'll see.
tradingview.com/chart/mIABJruB/
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I am newbie for this XABCD Pattern.
X 113.16 (Take Average)
A 112.319
B 112.839
C 112.378
D 113.585(Gartley) 113.68 (Crab)
Still dropping Point C, or maybe confirm the point C (see rebound)
tradingview.com/chart/mIABJruB/