Here is the followup pattern to the weekly pivot point on the NZD/CAD.
The weekly pivot level runs directly through a close-to-perfect Gartley. Upon closer inspection, there is also bullish 5-0 in the making.
The gartley dictates that we should sell at 0.977, with TP levels at 0.382 and 0.618 respectively In this instance, we will short the pair until the weekly pivot level at 0.955. In an ideal world, we would then buy in until 0.98.
As per usual 5-0 patterns, the C point can extend to as far as 2.24- one would need to adjust the 50% retracement accordingly. Taking this into consideration, the Gartley should not be entered if there is not a signal vandal between the levels of the D point and the X point. Due to the distnce petween these 2, experience tells me that if price extends past 0.988, the gartley isn't gonna happen. So in this curumstance, we should only look for the readjustment of the 5-O.
Gartley ratios
B: 0.618
C:0.382-0/886
D:1.272-1.618
xD: 0.786
5-O Ratios
B:1.13-1.618
C:1.618-2.24
D:50%
The weekly pivot level runs directly through a close-to-perfect Gartley. Upon closer inspection, there is also bullish 5-0 in the making.
The gartley dictates that we should sell at 0.977, with TP levels at 0.382 and 0.618 respectively In this instance, we will short the pair until the weekly pivot level at 0.955. In an ideal world, we would then buy in until 0.98.
As per usual 5-0 patterns, the C point can extend to as far as 2.24- one would need to adjust the 50% retracement accordingly. Taking this into consideration, the Gartley should not be entered if there is not a signal vandal between the levels of the D point and the X point. Due to the distnce petween these 2, experience tells me that if price extends past 0.988, the gartley isn't gonna happen. So in this curumstance, we should only look for the readjustment of the 5-O.
Gartley ratios
B: 0.618
C:0.382-0/886
D:1.272-1.618
xD: 0.786
5-O Ratios
B:1.13-1.618
C:1.618-2.24
D:50%
