Google has been playing with harmonics last few months. Everything is on chart but I will still explain it.
Gartley completed and reversed right after a slight touch of the PRZ. The price didn't really touch the first target but the PPZ (Profit Protection Zone) covered the position with a small profit right before the continuation of the predominant trend.
The move broke the harmonic resistance and the "terminal bar level" which gave signal for a long order. The upward move
continued just enough to complete another AB=CD (This might be a three drives but I haven't studied it yet so I cant speak about it) Then we had a retest of the now harmonic support and the last candle indicates a bounce off it. I would personally long with a target @ last high.
That's all, folks.
Update: Target reached double top formed. Looking forward :)
Gartley completed and reversed right after a slight touch of the PRZ. The price didn't really touch the first target but the PPZ (Profit Protection Zone) covered the position with a small profit right before the continuation of the predominant trend.
The move broke the harmonic resistance and the "terminal bar level" which gave signal for a long order. The upward move
continued just enough to complete another AB=CD (This might be a three drives but I haven't studied it yet so I cant speak about it) Then we had a retest of the now harmonic support and the last candle indicates a bounce off it. I would personally long with a target @ last high.
That's all, folks.
Update: Target reached double top formed. Looking forward :)