We have the potential makings of a bullish Gartley pattern on the daily timeframe.
The entry of this pattern at 78.6% utilises a stop at 100% of XA.
Looking at the 78.6% entry point we can see this is previously a massive area of support and resistance.
Due to the large stop loss for this pattern it would be used as a market narrative to find positions on the lower timeframes.
The entry of this pattern at 78.6% utilises a stop at 100% of XA.
Looking at the 78.6% entry point we can see this is previously a massive area of support and resistance.
Due to the large stop loss for this pattern it would be used as a market narrative to find positions on the lower timeframes.