cadjpy gartley

an interesting pattern is appearing, with .786XA, AB=CD, and 1.618BC all arriving around 80.25 area.

whilst the longer term gartley mentioned yesterday is with the downward trend (4H & Daily), this new potential gartley set up is with the short-term up trend, from a nice looking impulse wave, and price action so far looks corrective

how to play? good question...

option 1. TP1 80.45, on the original longer term frame comes in before the lower frame gartley so just treat as normal trade and once triggered bring s/l down to entry level and see how it plays out with expectation larger time frame negates lower time frame but that some bounce will be expected

option 2. As above but also enter on the bullish gartley, and follow the same rules for gartley trading. So your net position will be slightly long (ignore this rubbish about the false concept of 'hedging') at 80.30 (2 lots*risk short + 3 lots*risk long) but you can treat them as two distinct trading patterns.
Your s/l on the bearish gartley will be just above the .618AD of the bullish gartley (assuming a perfect ABCDbounce) so you can leave as is, or keep above A of the bullish gartley to give breathing space.

option 3. sq up the bearish gartley at tp1 80.45, for a 1:1 reward trade, establish bullish gartley position at 80.25/30, look to re-establish short position at higher levels if you think the bearish gartley is still valid.