Potential Bullish Gartley with great Risk/Reward
Found this DEEP Potential Gartley setup on the 1hr chart. You can see that B never touches the 78.6% Fib from X to A Validating the Gartley setup. Target 1 is 3 to 1 R/R and Target 2 is 5 to 1 R/R. There would also be a 1 to 1 measured move down to the same area using the A to B and C to D legs. Looking left we have been bouncing off this same support level @ 122.14 We have also broken structure to the upside on the daily chart which has me looking bullish EURJPY
In Other View Point – Watch For Institutions To Step Into EURJPY
We advise you to watch for Institutions to step into EURJPY at lower levels. One to watch for sure during the next 12-18 hours. We suggest using a stop of 40 Pips. Profit target is completely up to you, try to gauge price action to determine your out.
In Another View Point – EURJPY Great Opportunity to Buy
Given the Yen’s weakness against the Euro over the past month and a half, the best trading opportunities on this pair will be buying opportunities. This 122.1 level will be a very likely place to see price bounce. Institutional traders will be eyeing this level for a potential dip buy. As usual we will be using a 30-40 pip stop and be looking to get whatever we can on the profit side. Good luck to anyone that takes this trade. Unique Forex is where retail traders become institutional traders. Learn to trade like an institutional trader and become consistently profitable.