Price action can turn around at any price point between now and the blue point 'C' and then move up toward the blue 'D' to complete a bearish Gartley. If price action continues to fall beyond the blue 'C' to the pink 'C', it might turn around and move toward the pink 'D' to complete a bearish Cypher. Both patterns would complete around 1.11900, at which point I would enter short for a sharp drop. I intend to enter a quick long scalp when price action reverses toward 'D'.
Let's see if either patterns plays out.
This is not trading advice.
تعليق
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Looks like price action is favouring the Gartley. Lots of economic data expected for both currencies in the coming hours.