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ryanmwing90878
Sep 24, 2022 4:46 AM

MRNA harmonic 886 retracement.  Long

Moderna, Inc.NASDAQ

Description

Interesting i article I found on the web on retracements. Different pattern but the idea is the same context. "short XA retracement particular, I realized that the B point within a Gartley-type structure that was less than a 0.618 would almost always exceed the expected 0.786 retracement of the XA leg at the projected completion point. I showed Jim this new pattern — called “the Bat” — which used what I was calling a “deep 0.786 retracement.” I told him that executing at the 0.786 without regard to the structure was a critical mistake. Besides, the 0.886 retracement, when used in the correct pattern structures, reduced the amount of risk in previously “undifferentiated” Gartley set-ups by 10 percent."
old.harmonictrader.com/blog/2013/08/08/the-origin-of-the-0-886-retracement/

I hope you enjoy the TA.
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