BTCUSDT - Possible Bullish Gartley Harmonic
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 0.888 typical Gartley Fib.
Should the pattern continue to play out, will be looking at a retracement back to daily at 0.782 between X and D impulse. Will be looking for a bounce at 0.382 (or 0.5 not on chart) for momentum to the upside as well to the upside.
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 0.888 typical Gartley Fib.
Should the pattern continue to play out, will be looking at a retracement back to daily at 0.782 between X and D impulse. Will be looking for a bounce at 0.382 (or 0.5 not on chart) for momentum to the upside as well to the upside.
Comment:
My trading mentality here is, stick with the plan. If it does not go the way I planned, there will always be another trading opportunity. Dont chase the price movement, or second guess yourself. Know your levels and stick with the plan.
Comment:
I am drawing a retracement to about 22,100 based on market structure and a Fib Expansion at 1.618.
Comment:
22,500 - 22, 650 1st for a bounce of nPoc. I think 22,475.. Has the biggest level of confluence. I dont know. There are 2 weekly supports at approx 22, 600. Interesting.