The GBPUSD market seems to be setting 3 different potential harmonic patterns within the same area.
1) In blue we have a Cypher Pattern
2) In yellow we see a Bat Pattern
3) In red we see a Gartley Pattern
In a perfect world, we´d be able to sell the Gartley all the way to the buying point of the Cypher for example. We can only dream :D.
I will update this post with further analysis, as the market continues moving.
1) In blue we have a Cypher Pattern
2) In yellow we see a Bat Pattern
3) In red we see a Gartley Pattern
In a perfect world, we´d be able to sell the Gartley all the way to the buying point of the Cypher for example. We can only dream :D.
I will update this post with further analysis, as the market continues moving.
Comment:
Red Gartley trade is now active, with a small positive equity
The B point retraces and closes at the 0.618 level of the X-A move, this is well below the required range of 0.382-0.500.
My bad :P