IPCALAB Bearish Gartley Pattern Setup

Previously on daily chart, it is been observed that the price action is ranging in a uptrending channel. Today, on hourly chart, there is formation of Bearish Gartley pattern has been observed which indicates selling pressure at 630 levels, where Bearish Pin-bar pattern is also observed. There is also a MACD crossover that to be noticed too. The above said factors indicating bearishness in the chart and It shall further move down.

Target 1: 603
Stoploss: 625

Dagangan aktif:

Correction: It is a bearish Butterfly pattern

Dagangan aktif:

Price action breaking out 616 levels, now shall move to targets.

Dagangan ditutup: sasaran tercapai:

Targets achieved successfully, Regards

Dagangan aktif:

Analysis done for target 2, now shall reach to 596 levels.