Most likely trade is the gartley but the bat is still possible.
two potential harmonic patterns might take place, the bat pattern or gartley pattern. If markets hold on the 1.13802 level then the bat pattern is the most like pattern to happen and we can also see the double bottom trade with a nice trade on the C and D leg before spring-boarding off in a bullish direction of the 1.13432 level.
But by looking at the last bearish candle formed (which is a continuation candle) most likely market is going to retrace towards the 1.13432 level forming the A-B leg of gartley and the a potential C leg trade will be activated. Also the RSI is below 50 and this favors the bearish side so a further pulled down to 1.13432 is more likely to might happen. This will give a nice 2.42 ration trade with target at the 0.382 fib ext level.
But by looking at the last bearish candle formed (which is a continuation candle) most likely market is going to retrace towards the 1.13432 level forming the A-B leg of gartley and the a potential C leg trade will be activated. Also the RSI is below 50 and this favors the bearish side so a further pulled down to 1.13432 is more likely to might happen. This will give a nice 2.42 ration trade with target at the 0.382 fib ext level.
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