TRX about to go long after a nice short

1122 7
Looks like a Bullish Gartley Pattern is currently forming on the daily time frame of TRX .

My Fibonacci Ratio analysis:
The AB leg retraced nicely to the Fibonacci 61.8% retracement level of the XA leg.
The BC leg also retraced up to the Fibonacci 61.8% retracement level of the AB leg.
The Fibonacci 127.2% retracement of the BC leg falls right on top of the Fibonacci 78.6% retracement level of the XA leg
The 127.2% Fibonacci extension of the AB leg is 4 handles above the 78.6% retracement level of the XA leg.

All these factors point to a potential reversal zone around Point D.

Trade plan for this setup:
Place pending order to buy at point D
Stop loss is under fib 88,6 which I see as a secure bounce area
First Target is the 38.2% fib retracement level of the AD move around 2.27
Second Target is the 61.8% fib retracement level of the AD move around 2.47

Safe trading Ladies and Gents!
your B point is to high to be a gartley. a gartley will be at an 88.6. If price goes down to an 88.6 you will have a new BAT pattern. that is because your b point falls between the 38.2 and 61.8 retracements. Better to let price come down and trade the bat.
1.89 now, moving lower
WallStScalper MicroCapEquity
Let's see if we have a move a little bit lower monday or early next week - but it's the buy area here
Lol, strange bc I see it at 1.60 again before the next run up. Its making new lows in 2014.
WallStScalper MicroCapEquity
Well i'm not so sure about that. Until proven otherwise I see it this way:
Price is right ow within a tight wedge or in EW terms in an ending diagonal - it will result in a break to the up side and a good turning point is at the 78,6 fib.
That could very well mark the end of wave 3 and a 4 up to come. The 5th wave could then very well end at the 0.886 fib after the breaking of the ED.
I see this as ending the lang down turn in the stock as it could very well result in being a wave 2 down and a 3rd to begin.
If you see it test 1.60 again then is't the 4th time around which normally means it's going lower after a dead cat bounce. But time will show. BM
WallStScalper MicroCapEquity
Maybe of interest... it's better being serious then laughing
WallStScalper MicroCapEquity
Of even more interest to you....maybe.... might blow your mind.... ;)
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