Gartley & Bullish descending Wedge// IF=THEN ®

26 nov 2015

EURJPY

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

"Wedges

There are 2 basic shapes, both with converging highs and lows:
Falling Wedge

A falling wedge forms with lower highs and lower lows. A bullish signal, a falling wedge is a continuation signal in an up-trend and a reversal signal when observed in a down-trend.
Rising Wedge

A rising wedge is formed by higher highs and higher lows. A bearish signal, the pattern is normally a continuation signal in a down-trend but acts as a reversal signal when encountered in an up-trend.

Target Measurement

The target for a continuation pattern is measured in a similar fashion to a flag or pennant.

The target for a reversal pattern is calculated from the highest peak to the lowest trough in the wedge pattern. The objective is calculated by projecting the target up/down from the breakout point."

Safe Trades;