A recent pullback from the weekend uptrend has posed a perfect opportunity for a Bullish Gartley Harmonic pattern formation. Key levels to hold (B) 26,850. Move will be invalidated should we lose this level. Possible sell entry, 0.618 fib extension from (A) to (B) or even (C) to (B) .. C to B first for rejection.
Gartley is not a sure indicator for price targets...
12 Hour Time Frame UTC+1
Fib pulled from X to A with confluence on 0.618 and nPoc (s) at 22,500 to 22,650 for first impulse move. Looking at a retest at these values. Should this retest fail, that would probably invalidate the pattern.
Should the pattern continue to play out, will be looking at resistance drawn from Fib pulled from A to B, 0.618 resistance or...
Possible Bullish Gartley Harmonic compared to monthly chart on right. Fib 0.382 and 0.618 mid point nicely aligned. Monthly time frame, not a one-to-one with left chart. Levels are roughly aligned with Harmonic pattern. Non technical. Time frame support/resistance levels not included. Time based Fib drawn from XABCD - point A to B to B. You have to draw 3 points....
As we can see on the 4H chart, we have a Max Gartley pattern in formation. The PRZ - potential reversal zone - is very close. Pivot points can be observed in the Fibonacci Retracement. Fisher Transform Oscillators (www.tradingview.com) and Ehlers Stochastic Oscillator-LazyBear/) in bullish momentum.
LINKUSDT is in a 4H bullish momentum driven by the daily relief...
ULTRA -
Bullish Gartley sprung with a backtest of spring on historic level of support with Class A Hidden Bullish Divergence - see you at $2 then $2.50
Hi traders. A upward leg CD of a bearish Gartley Harmonic AB=CD in a concise golden mean ratio, as a move to make a double bottom, can be expected from this throwback reversal breakout of a broadening triangle. A rare combination with a total Fibonacci confluence. Good intraday trade. Stop at C point.
