top of page

Bullish Garley/222 pattern at EUR/USD

FIB61.8 (1.09939 - light green horizontal line) of upswing XA almost coincides with ABCD161.8, which makes a bullish gartley/222 pattern on D1/daily time-frame. The round no. 1.10000 also coincides with support cluster area formed between the FIB level and ABCD161.8, that makes this area even more significant.

It still keeps the chances of bullish continuation of EUR/USD intact. Earlier we had similar outlook (view Anand's comment on previous post). If EUR/USD makes a bullish candle or chart pattern on H1 even after closing of D1 slightly below FIB61.8, chances of bullish reversal will still be on the table. However, if prices goes to D area but doesn't close below the FIB level; it will plot stronger scenario for bullish reversal.

1 comment

1 則留言

Anand Dubey
Anand Dubey

If you have traded this gartley, you can now close half of your position or set SL to BE.

Update: Having seen positive revisions in PMIs; French Flash Manufacturing PMI (50.5 to 50.7), German Flash Manufacturing PMI (41.9 to 42.1), German Flash Services PMI (51.2 to 51.6), EU Flash Manufacturing PMI (45.7 to 45.9) and EU Flash Services PMI (51.8 to 52.2), I am not expecting upcoming PMIs tomorrow to be surprisingly negative. PMIs are leading indicator of economy and if it is improving, it seems like the worst is over and economy seems to be recently recovering. Therefore, I don't expect ECB's Lagarde who is going to speak this week, to signal any immediate QE or rat…

bottom of page