CADJPY has completed a bearish Gartley pattern and has thus far respected its resistance in the potential reversal zone. The Gartley PRZ falls in the sell zone of a bearish Wolfe wave which produces a confluent target with the harmonic pattern. To add to bearish bias, an unhit monthly pivot sits below price. SL is set above Gartley 'X' point with targets at .382CD, .618CD, and the unhit pivot for the month of November.Confluence in the PRZ:
- Bearish Gartley pattern completion
- AB=CD (Gartley)
- 1.5BC projection (Gartley)
- Bearish Wolfe wave setup complete
- Trendline resistance confluent with Gartley PRZ
- Unhit monthly pivot below price
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.