The Bullish AB=CD pattern has completed and price is finding support at the "Fibonacci Support Cluster 2" on my chart.
RSI is oversold and turning up.
Also, we have hit the bottom trend line of the descending channel where we may have found support.
In case you are wondering, I erased the "Fibonacci Support ...
This is a continuation of my analysis on the STEEMBTC pair on the 120 minute timeframe. Please see below for previous analysis on this pair.
After Looking at the STEEM/BTC pair I realized I was too premature in my entry last night ...
I have been waiting for this Gartley to complete for quite sometime and it finally has. The fibonacci levels on the AUDUSD pair are optimal and this is a beautiful Gartley!
This, with RSI in overbought territories, gives us a nice case to take out a short position.
Targets are shown on my chart.
It looks like we got in the previous trade too early and should have waited for price to test the 1.127 extension: please see my previous chart below.
I am looking for a reversal here at around 1.272 fib ...
After price retested the PRZ and support held I have re entered my long position.
I am looking for a Type 2 reaction here.
Looks like a nice triple bottom as formed too.
Stop Loss: 0.00305
Target 1: 0.0049
Target 2: 0.0059
After price retested the PRZ and price held, combined with the possible triple bottom, I have taken a long position on the ETC/BTC pair, 120 minute timeframe on the Poloniex exchange.
I expect to see a Type 2 harmonic reaction here.
The harmonic pattern has completed and price has consolidated nicely in this range.
It appears a triple bottom may have formed which is another case to go long.
A triangle has formed and is coming to an end soon so there is bound to be some moves soon in either direction.
All targets, entry, and and stop loss are ...