GBPUSD Bearish Gartley Pattern And Shoırt Opportunity
GBPUSD is testing 1.21900 resistance. It is likely to test 1.22100. We see a bearish Gartley Pattern that would be completed at D. The setup for Gartley Pattern is as follows:
Pattern /Reason: Bearish Gartley Pattern
Time Frame: H1
Accuracy of the Pattern: 89%
Setup No: GBUS080601
Recommended Lot: 0.20
Trade Period: Scalping / Intraday
Entry: 1.22120 to 1.22230
Stop Loss: 1.22350
TP1: 1.21910 / Reached
TP2: 1.21720 / Reached
TP 3: 1.21450
Divergence/ Convergence Confirmation: Not Yet – Will be updated.
Candle Pattern Confirmation: Not Yet – Will be updated.
Moving Average Confirmation: Nothing Particular
The trend of the Timeframe: Bullish
The trend in the Daily Chart: Bearish
Notes: As seen on the chart, 1.21910 is the key level. Break below will trigger the bearish move.
Update: TP2 Reached.
Warning and Things to Pay Attention:
- Harmonic Patterns are reversal patterns and mostly against the main trend on the chart they appear.
- Target levels are determined by MM Calculation as the pattern has not been completed yet. They may vary 3-5 pips according to the completion level of the predicted patterns.
- Pay attention to Time Frame, Trade Period and Estimated Completion Time, Accuracy and Recommended Lot Size clauses mentioned below.
- Do not risk more than 2% in one trade setup.
- We usually book partial profit at the first target and move our stop loss to entry or break-even level. Use your own risk/profit management to exit the trade.
- We are publishing potential opportunities. There are no certainties and traders bets on possibilities. Read the setup carefully before entering a trade and take your own decision.
VERIFIED ACCOUNT AND SETUP RESULTS
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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money
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