Bearish Gartley
Elon tweets, eth peaks. What's Fib say? - Ethereum! (ETH)Hello traders!
Always, it is good to have two different plans in case things don't go your way. In the interest of that, here is my BEARISH Eth chart, and let's just say - I hope it's wrong!
Now, everyone knows by now that Elon Musk, tweeted "Ethereum" but less reported is that he followed this up with "jk". Still, Eth struggles. I think the market is beginning to smarten up to FOMO especially that which comes from celebrities. Also, Elon I think is known to have a bit of an affinity for trolling. I can definitely see him taking a few shots of whiskey and thinking to himself, "I wonder what happens if I shill a crypto with a cryptic tweet?". Think, that's who Elon is, an engineer, with a sense of humor.
This to me would make sense, so don't buy into any TSLA hype, any time soon, without more information.
Anyways, about the chart. Well, it's bad. The recovery pattern on Ethereum is not nearly as consistent as Bitcoin. While the LOWEST I can see BTC going in the near future would be 4400 - 4600 (refer to some of my BTC charts to see that retracement), it's quite possible that if BTC dips heavily, ETH could see new lows - $75 - $80.
This is the 127% Extension target of the CD waves on both the Bearish Gartley identified (left) and the Bearish ABCD (right), both Fibonacci based patterns.
The fib channels, as you can see there, support the POSSIBILITY of such a move.
All I'm saying is, be careful with Ethereum, the gartley is one of my favorite patterns. It was actually able to call the BTC low nearly a week in advance:
Previous Analysis:
USOIL - Yearly Plans
Potential Bullish Shark 0.886
Potential Hidden Bullish Butterfly Advanced Formation 1272
Potential Hidden Bearish Gartley 0.786
Potential Hidden Bearish BAT Pattern 0.886
Expanded Flat Corrective Wave (ABC)
Support and Resistance Levels
Moving Averages
Fibonacci Retracement Levels
GBPJPY : SAE IV - ABC FeverFX:GBPJPY Monthly Analysis
Bearish Shark Pattern Target 0.886
Corrective Wave (ABC)
Potential Bullish Gartley Advanced Pattern AC 0.618-0.886 BD 1.272
Potential Bearish Gartley Advanced Pattern AC 0.618-0.886 BD 1.272
Potential Bullish Shark Pattern 0.886 (unconvincing a-c?)
Potential Hidden Bearish BAT Pattern 0.886 (Weekly Timeframe)
Support and Resistance Levels
Moving Averages
Fibonacci Retracement Levels
Hedging Strategies activated Buy again targeted 2nd red zone
This is an update from previous weekly chart analysis
The Money Journey - Hope for the best and prepare for the worst
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Bearish Gartley Pattern + Structure
Market sentiment and plan:
Bearish gartley pattern formation on daily chart
Pattern completion point matches perfectly with structure resistance
Trend is bearish
On 4h chart the market is trading inside a rising wedge
Bearish breakout of the wedge is a perfect signal to sell the market
Initial target 0.86
Please, check my signature below!
AUDUSD H4 Bearish Bat & Gartley OverlapSometimes, you will be able to find two or more Harmonics Patterns pointing about the same D completion point, if you know their parameters and where to look. I have specific rules to qualify these patterns.
Looking for a shorting opportunity at price level 0.7243 and place stop loss beyond point X.
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USDJPY-Weekly Market Analysis-Mar19,Wk3Having this bearish Gartley pattern already triggered and hit our 1st Target, I'm waiting for the market to hit 2nd Target if I'm not asking for too much.
I will be waiting for a buying opportunity or setup of a trending move.
Later this Wednesday, 20Mar2019, 18:08pm-20:00(+8GMT) I will be going through 12 currency pairs on the mid-week analysis
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Trade Ideas Positions: USDJPY GartleyWoohoo! Thought the Bearish Bat Pattern that we spotted during our Facebook live session got invalid, it invalid the previous bullish pennant as well.
Right now, a Deep Gartley pattern as a Counter-Trend Trade.
Already engaged the trade, exact stops and targets will be shared with my subscribers.
AUD/CAD 1H Bearish Gartley @ 0.94525Very nice intraday opportunity setting up to sell in short term bearish trend . Pair has broke below the previous structure support and is now forming a potential bearish Gartley . Rule For entry- RSI must be overbought and/or diverging AND of course RULE NO.1 ATR based stops above the XA leg in case this goes wrong.
Trade your plan and have a nice day!!!! :)