Potential H&S with Bullish Gartley Forming
The bullish reversal we achieved on the weekly chart is already at risk of being negated (see chart below). There are some crying foul at the "obvious" manipulation following the over-extended bull charge, with price being beaten to lower lows. However, this is the game, and if you don't like it, play someplace else. Its entirely likely some one knew of the up coming BTC auction (gigaom.com/2014/11/17/feds-to-auction-50000-bitcoins-from-dread-pirate-roberts/?utm_source=dlvr.it&utm_medium=twitter) and needed to pump the price so they could dump for greater profits.
At any rate, neither here nor there. All we can do is follow the charts and go with what price action dictates. Forget the troll box and it's trolls. Right now we have two potential setups forming. A sloppy H&S thanks to a shallow left shoulder and a very solid Gartley. Getting back to that weekly chart, neither of these I would have considered likely but with our trend reversal at risk these trades are something to keep in mind when establishing a bearish target plan.
Price targets for PRZ = $346, $326 and $287
At any rate, neither here nor there. All we can do is follow the charts and go with what price action dictates. Forget the troll box and it's trolls. Right now we have two potential setups forming. A sloppy H&S thanks to a shallow left shoulder and a very solid Gartley. Getting back to that weekly chart, neither of these I would have considered likely but with our trend reversal at risk these trades are something to keep in mind when establishing a bearish target plan.
Price targets for PRZ = $346, $326 and $287
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