EURGBP Butterfly and Weak Gartley Line up

15 Jun 2019

The reason I say that the Gartley is weak is because the B reading is 0.410ish ( can't remember exactly what it was) and I usually don't accept it as a Gartley unless the number is atleast over 0.500. The butterfly is good though if the GArtley is not and price does appear to be stalling in both of their PRZ's which I colored one green and one blue. Support and resist and red and light blue and T1 and T2 at green. I prefer to set my SL much tighter than most people so I don't put it down, my rationale being if I stop out I can reenter the trade when price indicates the reversal which may save me pips.
Edit; I forgot to add the RSI is giving the signal for taking a short position which is something I like to use on top of many other things for example there is a fairly strong resistance right at the end of the PRZ adding to the probability of a reversal.