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Candleformation

LTC correction for my previous idea Weekly Chart If you are familiar with candle stick patterns there is interesting one here which deserve attention. This is weekly chart (my opinion is that the bigger intervals of candle stick pattern or formation are more reliable then the smaller one) I consider “rising three method” on weekly chart as a strong suggestion for continuation of bullish trend. It is not 100% as in books but please be aware that the technical analyst has more commons with art then mathematics and it is very rare that the patterns or formations are perfect. Fibonacci retracement at 61,8% stopped shorts and it seems like it will push pair towards north for some time. There is very strong psychological resistance level combined with GAP on weekly chart around .02000. I would consider that the pair will go down as low as .01000 as it is trading in channel between 0.1000 and .0200. I also placed two GAP's from daily chart which will be described in next idea.
Long
by Krystiannwk
Gap closed...Sell if the price breaks through the calculated support level (see related link). This will confirm a 5-wave move down and therefore a bigger Zigzag (5-3-5) which supports the daily chart. If not, we will have 3-wave upward move to the near of the top, so buy! The candlesticks could stay in the "Three Stars in the South" formation. (Check the charts below for the big picture) 4H (Wish, but...): 4H (seems to confirm the daily chart, look below): Daily: The 5th wave in form of a wedge which could resolve in an upward move to start a correction?
by phi35