Howdy Traders ,
Exactly 61.8% retracement of XA leg which required for two pattern - 1 Gartley and, 2. Crab.
For the Gartley pattern, The price should respect of X but here price already fallen 1.13 which is not suit for Garley.
There are two possibility as per following:
Exactly 61.8% retracement of XA leg which required for two pattern - 1 Gartley and, 2. Crab.
For the Gartley pattern, The price should respect of X but here price already fallen 1.13 which is not suit for Garley.
There are two possibility as per following:
- 1) The price will not break recent low or 1.618 AB = CD.
- 2) For the Crab, pattern D point should be more than 2AB=CD which possible for Reversal.
Trade closed: target reached
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.