Wednesday, January 14, 2015

GBP/USD Short Trade - Bearish Gartley Pattern

A Bearish Gartley pattern has formed on the 4-hr. chart of the GBP/USD.  Profit Targets are the 50.0% and 61.8% Fibonacci retracement levels of the AD move.  See chart.  AB=CD @1.5236; 1.272AB=CD @ 1.5280.  Current D point is between these two @ 1.5268.  Stop is @ 1.5371, which is above the 1.618AB=CD level (1.5334).


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