As many of us have noticed a very large pennant has been forming and coming to a close.
Also, the long term bollingers are pinching up nicely!
I dare be specific enough to say that mid june might be the breakout/turning point. If this trend does in fact reverse, this is where the big play is made.
Same is to be said to the breakdown.
If we fall downwards...
Zooming in would be useful in this one. First, starting from the biggest one which is a possible bat pattern. It's time frame is daily but I decided to include it in the 4h chart idea. 2nd is the Green Gartley pattern mesured by 1.27AB expansion D point. The other 2 patterns are gartleys as well mesured the same way. Entries are represented by the horisontal lines...
Everything aligning around the structure level and the Cypher pattern. The Gartley pattern is with 1.27AB ext. D point which so far does amazing job. Everything else is on the chart. Entering in the blue window. Have fun.
We have our RSI at oversold state. The whole PRZ has been tested and we have a reversal signal right above it . The blue line represents the trend line which in my opinion has to be broken to have a valid reversal with this Gartley. I'd personally wait for a breakout to the downside to confirm my short entry. About the PRZ: AB=CD completion is on the first PRZ...
