Hi fox hope you are well, on 1 hour chart LTO Network (LTO) is forming harmonic pattern and this time it is bullish Shark. All legs are formed now the priceline is forming final leg.
The Pattern:
Lest’s dig the pattern deeper to see how perfect this pattern is formed:
After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.618 Fibonacci and then B to C leg is projected between 1.13 to 1.618 (here I have ignored a little spike) of A to B Fibonacci projection area and last leg (C to D) should be retraced between 0.886 to 1.13 Fibonacci then the priceline will be ready to take bullish or upwards move.
Buying And Sell Targets:
The buying and sell targets according to harmonic Shark pattern should be:
Buy between: $0.05779 to $0.05443
Sell between: $0.06080 to $0.06753
Stop Loss:
The potential reversal zone area which is up to to $0.05443 can be used as stop loss in case of complete candle stick closes below this level.
The Pattern:
Lest’s dig the pattern deeper to see how perfect this pattern is formed:
After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.618 Fibonacci and then B to C leg is projected between 1.13 to 1.618 (here I have ignored a little spike) of A to B Fibonacci projection area and last leg (C to D) should be retraced between 0.886 to 1.13 Fibonacci then the priceline will be ready to take bullish or upwards move.
Buying And Sell Targets:
The buying and sell targets according to harmonic Shark pattern should be:
Buy between: $0.05779 to $0.05443
Sell between: $0.06080 to $0.06753
Stop Loss:
The potential reversal zone area which is up to to $0.05443 can be used as stop loss in case of complete candle stick closes below this level.
