TECHNICAL, WHEN WE LOOK AT THE GRAPH FOR 4 HOURS, THE Formation HAS BEEN CREATED.
THERE SIDE Formation ( ) CREATION POSSIBLE AVAILABLE !!
THESE TRANSACTIONS ARE HIGHLY RISK MONEY SHOULD NOT BE ENTERED WITHOUT RISK MANAGEMENT
PROCESSING 0.00001052 INPUT LEVEL: (AT 4-HOUR CANDLE CLOSING)
STOPLOS: 0.00000841 (BASED ON MY OWN MONEY MANAGEMENT) I KEEP THE LEVEL AWAY YOU CAN TAKE IT CLOSE (DEPENDING ON THE SITUATION)
NOT AN INVESTMENT ADVICE.
IF YOU USE ANALYSIS, REMEMBER TO LIKE AND FOLLOW👍👍👍👍👍👍
IF THERE IS SOMETHING WRONG ABOUT THE FORMATION, YOU CAN GET THE WARNING.
The retreat from A to D should ideally be 61.8% or 78.6% of the XA leg.
• A valid formation should be observed from the A level to the D level.
XA and AD must be time-matched.
• AD time should be between 61.8% and 161.8% of XA time.
At some times the retracts 100% of the XAB leg. ( )
• In this case, XA and AD time should be equal for a true double dip.
Failure of the pattern indicates the continuation of the bear market, and prices could retreat by 127.2% or 161.8% of the XA leg.
The formation (first described by Darren Oglesbee) is a 4-legged formation.
The difference of this structure from is that point C can pass below point A. For this reason, the probability of occurrence is lower and longer than . Because, after a bottom or top is broken and a new bottom-peak is formed, the previous bottom-top is most likely to be turned into support-resistance.
Point C should be at Fibo 127.2 or 138.2. It is very rare for this structure to form at the level of 161.8.