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On a two-day time frame chart, the price action has formed the final leg of the bullish Gartley pattern. There is also 50 simple moving average support below the buying zone.
Buying and sell targets:
The buying and sell targets as per the Fibonacci sequence of the Gartley pattern should be:
Buy between: $2.21 to $1.94
Sell between: $2.42 to $2.93
The maximum extent of the potential reversal zone to $1.94 can be used as a stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a profit possibility up to 51% and the loss possibility is 13%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
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