I rarely trade harmonic patterns but this one is my favorite. Here are my reasons:
AB=CD -> signaling to short at D
D is at 0.786 fib of XA -> signaling to short at D
Strong recent bull run, which signals that soon there will be exhaustion and the price will correct quickly to the downside. > Signaling to short within 1-2h
Good luck to everyone and take care.
LTC To The Moon recipe:
-several strong horizontal level
-1 trend line
-1 hammer candle on the daily time frame
-lots of volatility
-big Risk/Reward ratio
-small Stop Loss
This is called high quality signal!
Get rich now!
BTC reached 3700 which I marked months ago, just in case BTC really reaches 3700. Well today it did and since there is no S/R levels because this is a one more all-time-high level, we have to use the fib levels. Let me know what do you think? Will it bounce from the 3.618 level?
BTC is testing the $1160 level from 2014, this correction is necessary in order to confirm the support level. We should expect the trend to continue up because the trendline was not broken. Its time to buys some BTCs!