ninjabenja
Long

Bearish Gartley, BITFINEX

BITFINEX:BTCUSD   Bitcoin / Dollar
Advanced pattern setups on Finex. We can see the pattern is forming within what appears to be a rising wedge formation. The rising wedge is a counter intuitive pattern which typically breaks in the opposite direction of the short term channel. The thesis here, is that once/ if we complete our Gartley at 'D' (about $233-4) we would watch for a break of the wedge .

edit: initially i had posted that the completion of the Gartely would help to lead us into two other potential patterns, not taking into consideration that the price action to the Gartley's 'D' point, would invalidate them. Rookie mistake. I left them posted below. Regardless, I'm pleased to see that the pattern completed. Looking for retracements to .382 and then .618 of AD for our TP levels. (about $229 and $224.50)
Here are the other two on Stamp, don't mind the clutter :p ... re-posted to fix an error in the text and make the levels more clear:
snapshot
Reply
well spoted. I expect rejection around 233 for next 2 weeks, too.
Reply
You only have trend lines in your TA. What ever happened to good old fashion horizontal support and resistance set at specific prices?
Reply
That's what the SCMR dynamic support and resistance levels are for. If you haven't seen the write up I did on the system from SPYderCrusher, or aren't familiar with SCMR, see the chart for more detail.
 SCMR Analysis Suite Product REVIEW - live in the TV App Store!
Reply
cool not seen the butterfly before, thanks
Reply
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out