AUD/JPY: GARTLEY & SUPPLY ZONE BEARISH SETUP 15M

28 feb 2015

As you can see above, the latest swing high at 93.636 was just a few pips away from completing a gartley pattern. Price is currently printing HH and HL indicating an uptrend, and providing a possible scenario where we could see price make a final stretch completing the gartley, and testing the supply zone before making a stronger reversal.
Also, price has completed a bearish bat pattern to the T (seen on 4H), confluence with a strong supply zone, which provides extra confirmation of a possible downtrend.

I have highlighted an immediate demand zone where we could see price retrace.

Please refer to the description in the analysis for information on this setup. Feel free to comment below for any questions or suggestions regarding my analysis.

Thanks
MaiTrader