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Analysis of #GOLD
Here we could be having Butterfly and Cypher completing at the same point near trend line resistance, you could be aggressive and set limit order or wait for confirmation to enter
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Trade active, 2 pips drawdown, now in +100 pips profit. i'll continue to update this pair . feel free to drop comments below.
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Price has fully tested the potential reversal zone of the bearish AB=CD and it looks good to short.
Trading Pair: CAD/CHF
Time Frame: 15 Minute Chart
Formation: Bearish AB=CD
I was holding off until I saw a test of the 2.0 projection at 0.73485, which happened just moments ago. The main reason being is because of the small S/R range at the AB=CD measurement,...
We are predicting the formation and completion of the Gartely pattern as seen on the daily chart. We are long here at the start of the 4th leg of the formation which is also as major support zone. FX:EURCAD
We think that 1770 - 1731 will be good area to buy ONT and levels of Fibo will be our targets
Stop loss will be if we will break down the trend line with one candle 4H
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Confirmations for Gartley Pattern
- A-B must touch 0.618 but cannot touch 0.786
- B-C must touch 0.236 but cannot exceed A (on this case its at 0.382 unified gartley )
- D completion at 1.272 (Trend Extension) or 0.786 from normal measurement
- First TP at 0.618 (Fibonacci from D-C)
- Second TP at 0.382 (Fibonacci from D-C)
- Third TP would be back to where...