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The inconvenient Gartley // IF=THEN ®

Again, my perspective on this recent development...

After a double bottom, distinguishable in lower time frame, the price ripped its neck above @H1Support, found resistance @(H4&H1), pull back to the 61.8% zone, !broken!, in fact the price fell to 75%.
Now negociating below previous support now resistance (H4) (broken), expectations to the price to enter in a bullish "mode" - impulse.

. Wave 1 forged
. Retracement to the 61.8% forging wave 2,
. Wave 3 expected as an 161% ext from wave 1,
. 38.2% retracement between Daily Resistance (D1) and 4h resistance (H4)
. Wave 5 = wave 1 with his target pointing the Major trend line "from daily chart"

At the same time, one Gartley Bullish Pattern with a projection for point D below previous weekly resistance/support, IF completed, enter long with first target around support H1 (the 38.2% retracement) and second target arround support H4 (the 61.8% retracement).

Safe trades;

Andre_Cardoso

I am a financial market analyst based in Porto, Portugal. I provide market forecasts to a group of professional traders, playing a crucial role in assisting them in making well-informed decisions in the financial markets.

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