Looking at things from a purely technical point of view.
-Broken out of the falling wedge
-Key area to form the 2nd shoulder
-Hamonic Gartley Pattern (big)
-Extended W Pattern (small)
Check comments for insight on the Harmonic Patterns.
Price can easily break through the -0.618 level to create a much bigger W pattern, then start a reversal, but as of right now, price is at a key area that may trigger a reversal within the next few candles. Fib is drawn from a previous analysis I did a few weeks back, and I decided to leave it up.
Let me hear your thoughts!
-Broken out of the falling wedge
-Key area to form the 2nd shoulder
-Hamonic Gartley Pattern (big)
-Extended W Pattern (small)
Check comments for insight on the Harmonic Patterns.
Price can easily break through the -0.618 level to create a much bigger W pattern, then start a reversal, but as of right now, price is at a key area that may trigger a reversal within the next few candles. Fib is drawn from a previous analysis I did a few weeks back, and I decided to leave it up.
Let me hear your thoughts!
Note
GartleyExtended W
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.