The AUD/CAD has been setting up as a “Gartley” for the last couple months. I have kept it on the radar and I want to thank @nigelcapital for making sure I looked at it today. The confluence of the 161% extension and 78.6% retracement comes in at 1.0400 (give or take). The reaction (if we get there), and looking for a reversal pattern will be key in looking for a short entry.

Gartely patterns are great. Precise entries with calculated risk/reward. Just the way I like them. I tend to stick to the basics like the Gartley or Butterfly since I am not a “harmonic” expert by any means.

Blake Morrow

Chief Currency Strategist, Wizetrade

Disclaimer: I have no position in the AUD/CAD, but if we get to 1.0400 I may. :^)