As I commented in the Gartley Butterfly thread the kiwi is forming a better proportioned wing creature than the Aussie
Here I have modified the Gartley to 'idealize' the B and D points. Real prices themselves are not too far away. Tho B never went high enough D is still clawing for the correct D level.
I've added Fib time zones to the picture as well and it points to Oct 5th being the approximate turning point. Notice how A and C turned early tho.
Yes, as we said on Sunday - so many levels reached on so many charts........surely has to be a sign. Maybe the power of the "herd behavior" bringing it all together.
I'll check out a couple of timing technqiues, - see if they correspond.
As you can see I've had couple of longs - first fdrom the 7605 level then closed one at C and set a limit which got triggered (pretty quickly ) while I slept - stop loss always at the 7585 levels
Let see if we get to 7660 quite quickly as the pattern suggests.
so a maximum of 25 (very quick) pips on that trade was possible... but now its peeled back into the PPZ (profit protection zone) and I've closed it for minimal gain.....
I noted a bigger picture (1 hr candles) gartley possibility looking like D point might go as low as .7540 ish which may be playing out and counter to the smaller one I just tried.
Still, a reasonable trade tho imo - any trade that quickly goes into profit and offers the opportunity for some credit with minimal risk shouldnt be sniffed at.
We can see a definate Gartley shape forming with B382, and the current
high is 1618 wave A (or 1?). EW-wise this may be approaching the end of wave C(or 3?).
Direction has a south bias in the short/medium term IMO. Major Gann is still a little
way above, so we need to see a reversal confirmation signal before making any decision.
Heres a Pitchfork chart for a change, and you can definately see there
is potential for a Gartley termination (PRZ) around the PF centre tyne.
(PF in Red TBC = to be confirmed).
Peat - you appear to be scalping nicely with the short term BFs.
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