Depending your strategies, stop rules, and so on, we are presented with several potential buying opportunities on this pair :
1) bullish purple Gartley that completed a couple hours ago (I missed the entry on that one) which is a deep gartley and thus great risk to reward ratio on that Gartley
2) price might retrace a bit, retest the recent lows at the Gartley D completion, and if RSI divergence + previous low (at D completion) is not violated, we'll then have a valid double bottom that could be traded as such or as a second chance entry on the Gartley
3) more conservative traders might wait for confirmation of double bottom, rally of the price and then retracement to the 61.8 to take a 2618 trade
4) and if all 3 are proven wrong and price continues down the bigger green Gartley is waiting for us : not as good risk to reward ratio but still a good opportunity
But after all, what matters is that you stick to your trading plan and your trading rules !
Good luck in the market !
Follow me on my journey to become a professional trader journeyofarookie.wordpress.com
1) bullish purple Gartley that completed a couple hours ago (I missed the entry on that one) which is a deep gartley and thus great risk to reward ratio on that Gartley
2) price might retrace a bit, retest the recent lows at the Gartley D completion, and if RSI divergence + previous low (at D completion) is not violated, we'll then have a valid double bottom that could be traded as such or as a second chance entry on the Gartley
3) more conservative traders might wait for confirmation of double bottom, rally of the price and then retracement to the 61.8 to take a 2618 trade
4) and if all 3 are proven wrong and price continues down the bigger green Gartley is waiting for us : not as good risk to reward ratio but still a good opportunity
But after all, what matters is that you stick to your trading plan and your trading rules !
Good luck in the market !
Follow me on my journey to become a professional trader journeyofarookie.wordpress.com