Although i hate how much of an under performer this asset has been and that it has only ever made lower highs and lower lows
Here you can see momentum is shifting after a textbook Bullish Butterly Harmonic PCZ at the 1.272 fib extension an Inverse Head and Shoulders pattern has matured.
Not something that i would personally long just because of the sheer...
Its all in the wave structures!
The Bullish Shark Harmonic (green) turns into the Bearish Crab (pink) with a PCZ at the 1.618 (0.78850 AUD/USD)
This is all within the larger structure Bearish Bat harmonic (blue) completing at the 886 (0.78850AUD/USD) which is in confluent with the PCZ of the Bearish Crab (pink)
Love the confluence
After my original trade set up at $44 off of the PCZ of the Bullish Bat Pattern i had a 3rd target of $100. Profit took (120% up in 2 weeks) and exited at $100 before it went to All Time Highs at $104 and reversing!
After re analysing the chart i noticed the cup and handle structure forming on the daily chart.
I also noticed more significantly the ABCD structure...
After hitting all 3 targets on USOIL trade set up since $70 and all look set and done for USOIL the new data is telling us that may yet be the case!
Now holding onto that $100 support, making a higher low and pivoting on that old supply line while showing bullish convergence on the oscillators we could still be in for higher prices!
Here i identify a possible...
Its all about the wave structures!
As a Technical Analyst I identify patterns and harmonics to give us a higher probability of an outcome before they happen rather than talking about it in hindsight!
Here you can see on the 4hr chart the Bullish Bat Harmonic with a type 2 return underperforming and maturing into a Bearish Bat Harmonic that has a PCZ OF $114.72
1INCH/USD Trade Set Up
Bullish Shark Harmonic with a type 2 return sprung above critical resistance
Low Risk Value Perceived Areas
Thin order book from here to 2nd target at $3.60 (100% profit potential)
XMR/USDT - Active Trade Set Up since 26th Feb - (Wasnt posting publicly before) (first target hit) (3 targets to go)
Entry $154, Stop Loss $131, Profit Taking Levels $237, $262, 296, Argument = Bullish Butterfly, Type 2 Return at critical support with classic bullish divergence and a confirmation bullish engulfing candle
Trade Set Up -
Low risk! Double bottom - loose stop loss and still very equitable at 5-1 on main target (2nd target) 187% upside potential, 3rd target 450% upside! Basement prices on this one with an edge!
AR/USDT - Very Bullish! Poised for a massive mark up! Bullish Cypher Harmonic made 786 retracement (outperformed BTC on way down) inverse head and oblong shoulders at the PCZ! locally 3 rising valleys, long term supply line breakout from top with backtest bump and run! 69% upside! absolutely amazing looking!
Active Trade Set up
Outperformed the Macro
Created the Bullish Bat Harmonic at the 0.886 retracement sprung and backtest of spring (type 2 return) On an old inflation point from history
Hidden bullish divergence develops at the PCZ of the harmonic where it just happens to have also created an inverse head and shoulder pattern