In the last week, price bounced in-between two SCMR dynamic levels seeking a direction: first off support, then back down from resistance to test and break previous support. This has set us up for possible completion of a bullish Gartley advanced pattern at or near the 'D' point price of 0.00153730 BTC. I could certainly see a panic stab down to the next SCMR...
If you were waiting for an "optimal entry" and were dumb enough to miss the last round; amazingly we're getting a second look. I would expect to see a push lower, (hopefully) to the $15 range but with indies bottomed and embedded it could get crazy with a panic spike low. It's worth noting that SCMR is still printing red trend candles. Typically stops would be...
So I need to start by saying, this bullish Gartley Advanced Pattern is not truly valid. A proper Gartley of any flavor requires a precise .618 retracement of the XA leg, and as you can see, this one missed it's mark by .03. Decide for yourself if you think that's a deal breaker. The 'D' completion point of the pattern sits right on top of the lower trend line....
Hey Traders,
Cypher Pattern completion at 1.88490, Targets at the 38.2 Fib Retracement of the C-D leg with stops being at the 1.414 Fib Extension of the C-D leg risking only 1% of your account!
Trade Your Plan!
Gold presenting bullish signs if it can break above this 1 hr flag. Target price is approximately $1,320.
Yellow arrows: Preferred prediction as I believe the break above flag will be quite bullish.
Teal arrows: Second scenario could see gold tag the trend line channel before making its way back up to $1,320
Started a new account with IC Markets using C...
Hi Traders,
After my analysis on this pair, I have noticed we have a potential bearish Gartley setting up at 1.7000. What makes this more interesting is we previously had a head & shoulders pattern which broke and closed below the neckline, price than retraced back up to the neckline and still failed to retest the low at 1.6713. Due to this reason my secondary...
Even with all of the Craziness in 2018, one of the things that still held true was...
...Bat Patterns!
And right now, you have a very nice potential Bat Pattern setting up on the EURUSD.
The completion point is at 1.1474 and minimum stops should be above X (my stops are 1 Atr above X at 1.1512.
Potential T1 is at a 38.2 Retracement of A-D and T2 is at a 61.8.
As...
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