(Daily) McKinley Gartley & Ralph Elliott // IF=THEN ®

CADJPY

Double bottom. It can work as reversal, but first things first, we have a neck to break, that will validate the double bottom;

I think the Bears still are on control, we have no divergence on RSI and IF so, we have a cluster zone where the price "should" land around the $74 and $72; (4h chart showing strong bears pressure...)

GARTLEY
Point B:
61.8% can not touch 78.6% XA
Point C:
38.2% to 88.6% AB
Point D:
78.6% XA
127% ext AB
Target:
TP1 38.2% AD
TP2 61.8% AD

Check links below

Safe Trades;

Kommentar:

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Test the neck - Eventual "small" short opportunity

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Respecting bullish structure until now...

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Neck