Here's what I found:
1. There is a pattern from the A point to the D point. That pattern completes at 1.08753. The .786 completion point is at 1.08758. Only a 5 pip difference.
2. The internal wave structure of the is impulse-ccorrection. XA = 5 wave impulse. A to D = combo wave flat-3-flat ( ).
3. Of course this and prices are now well within the "Goldilocks Zone" where prices are most likely to turn.
Although this (.786 ) does not finish at the bottom of the larger triangle, given the pattern having confluence with this Gartley's D point, it would justify a good point to take a LONG position for a possible ride up the along the CD leg of the larger (seen on the 4Hr Chart below and in previous posts). Just keep in mind the PRZ of this and place stops accordingly.
I am taking a long position at this point as opposed to waiting on the .886 ending point. The PRZ for this is not so large and the risk:reward is needless to say....very good.
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
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