Potential reversal zone at 0.886 TP level of previous deep crab This level also corresponds to XD leg of the butterfly 1.618
lets see if the price can hit 1.618 target (1.17386)
Hopefully price reach the highlighted levels
i call this Early Deep Crab. if it reverse around this level, it might retrace to these two levels ie 0.382 or 0.886 as depicted in the chart. otherwise it is still too early to call this crab. it might as well turn out to be a crap. for my observation and learning.
it seemed my previous bearish gartley was invalid because AB leg didnt properly retrace to either 0.618 or 0.786. Setup is invalid Price now is going up i presume its going to 0.786 to form a bearish butterfly instead For my study and obserrvation Feel free to comment
Finished butterfly with ew projection
I wish this is a Gartley in the making. Lets observe
Previous post highlighted a spotted bullish Gartley pattern (purple) A second pattern spotted as bearish butterfly (yellow) Does this means the price willfollow bullsih gartley to D spot at Butterfly and then we can execute long sell as per daily butterfly pattern?
Spotted a pattern Buy at D if its valid
possible bearish butterfly but the pattern havent complete yet.
for my observation. if this is a valid gartley, there price is bullish. and we are now retracing to wave 2 before proceeding to wave 3. just an idea. please comment.
USDJPY sell to CD leg at wave 4 to wave 5.
seems like the ABCD pattern shall formed at 78.6% due to heavy price action that invalidated the 61.8% retracement. I shall wait for the pullback around 61.8% (if any). If this fails, the second safety net is the 78.6% fibo level before the uptrend.
Elliot's Wave Marking on Daily Chart. 1. Possibly price is making wave 2 retracement after wave 1 (with abc correction). will have to zoom into H4. 2. For observation only. thank you