D can be lower and does not always equal ab..the c leg can go down further so just watching..this could also change direction at a pivot low so just dunno..for all i know it can turn up tomorrow as it is way down today..tempting but gonna watch this one
If price stops near the 0.786 of XA, then a Gartley pattern would also be a possibility..Gartley paterns contain abcd..so I put capital letters for the gartley and small cap for the abcd pattern inside the gartley..PCZ(point of completion zone) is marked in green, but could be a butterfly or another pattern which goes down further than a gartley pattern...best to wait until it gets in that area and see what happens unless something bullish happens and things change..and things always change or we would all be millionaires(o:
I just used the magnet on here and moved ab to cd to calculate, of course d not here yet..
Often there will be a retest of D and volatility will occur if that is the sweet spot..
Just watching..
The only thing that never changes..is change
If price stops near the 0.786 of XA, then a Gartley pattern would also be a possibility..Gartley paterns contain abcd..so I put capital letters for the gartley and small cap for the abcd pattern inside the gartley..PCZ(point of completion zone) is marked in green, but could be a butterfly or another pattern which goes down further than a gartley pattern...best to wait until it gets in that area and see what happens unless something bullish happens and things change..and things always change or we would all be millionaires(o:
I just used the magnet on here and moved ab to cd to calculate, of course d not here yet..
Often there will be a retest of D and volatility will occur if that is the sweet spot..
Just watching..
The only thing that never changes..is change
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Correction: The cd leg CAN go lower than level marked in green on chart. Or it may not make it that low...or it can hit the green level and retest it over and over again...just be safe
Comment:
This is a bearish pattern (may go down) until D is found! After D is confirmed, it is a bullish pattern. It is a reversal pattern You can trade each leg if you do the short thing and the long thing (o:
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It is headed to a possible D quick!!
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Be safe about getting trapped in this one just becos it is making an attempt to go higher. Make double sure it is a true bullish move before entering