A unified gartley is completed. It is seen by prex(12) and atr(30,2.5) swing identification algorythms. No oscillator algorithms see it. Oscillator wave confirmation algorithms are frequently used by Ellioticians, price-only swing identification algorithms are commonly used by classic chart pattern traders and prex algorithm is a universal algorithm used by the majority of traders.
As a general rule a pattern with these ratios (B-point is 0.545 and C-point is 0.781) has a hiher probability to break the X-point than to reverse at 0.786XA or 0.886XA. Besides, the pattern is pretty obvious because more than one algorithms detect it.
I'd personally stay on the bearish side in this situation.
Disclaimer: this idea demonstrates my approch, it is not a trade signal for you.
As a general rule a pattern with these ratios (B-point is 0.545 and C-point is 0.781) has a hiher probability to break the X-point than to reverse at 0.786XA or 0.886XA. Besides, the pattern is pretty obvious because more than one algorithms detect it.
I'd personally stay on the bearish side in this situation.
Disclaimer: this idea demonstrates my approch, it is not a trade signal for you.
