BITSTAMP:BTCUSD Bitcoin / Dollar
This pattern will be valid at a touch of $298.32 on Stamp. If you front run your trades a few pips like I typically do, then the current level is sufficient to consider a short position. The Pattern is a deep retest of resistance around the 'X' level. The 'B' point retracement should be between .382 and .50. The 'D' point reversal is observed at the .886 of the distance 'XA'. If a fails it can sometimes morph into a , where 'D' exceeds 'X' to complete at 1.618 of 'XA'.