VIRTUAL TA Masterclass — Elliott Wave Meets Gartley HarmonicVIRTUAL has been on fire! Printing a clean 5-wave Elliott impulse with a +431% run in just 33 days. But after every strong trend comes a healthy correction, and that’s where we likely are now. Trading below key resistance and showing signs of exhaustion. The question: Where is the next high probability trade setup?
Let’s break down what the chart is telling us.
🧠 Structure Overview
Wave 5 peaked at $2.2169
Wave A dropped -25%
Wave B bounced +30%
Currently: VIRTUAL's trading under the $2 psychological level and weekly open ($2.0358) → signs of momentum cooling
A corrective Wave C is likely underway, and all signs point toward a very specific zone.
⚠️ Liquidity Dynamics
The longer VIRTUAL grinds sideways near $2.00 without showing real momentum, the more vulnerable late long positions become:
Retail traders are buying resistance
SLs are likely clustered just below Wave A’s low
This creates a liquidity pocket waiting to be swept — perfect fuel for Wave C
🔍 The $1.58–$1.47 Support Cluster: 14 Layers of Confluence
This zone isn’t guesswork — it’s loaded with technical overlap:
1️⃣ 1:1 Trend-Based Fib Extension of Wave A → $1.573
2️⃣ Monthly Open → $1.5354
3️⃣ 0.382 Fib Retracement of the entire rally → $1.5295
4️⃣ Bullish Fair Value Gap → $1.57–$1.53
5️⃣ Anchored VWAP from ATH → ~$1.46
6️⃣ Anchored VWAP from Wave 3 → ~$1.46
7️⃣ 0.618 Fib Speed Fan Support (~end of May timing)
8️⃣ 4H 233 SMA → ~$1.52
9️⃣ 4H 200 EMA → ~$1.52
🔟 Daily 200 SMA → $1.5251
1️⃣1️⃣ Weekly 21 SMA → $1.462 (reinforces the VWAP zone)
1️⃣2️⃣ Declining Daily Volume → momentum weakening
1️⃣3️⃣ Liquidity Pool below Wave A → likely to be swept
1️⃣4️⃣ $2 = Golden Pocket Resistance + Psychological Barrier
🔴 Short Trade Setup (Active as Long as SFP Holds)
For those favouring downside continuation toward the Wave C target, a short setup is in play:
Entry: Weekly open retest around $2.0358
Stop-loss: Above SFP high at $2.143
Target: 1:1 Trend-Based Fib Extension of Wave A → $1.573 or the Swing Low of Wave A at $1.647
R:R ≈ 1:4 — a solid, well-structured short opportunity
As long as price remains below the SFP and the $2.00 golden pocket resistance, bears maintain control.
🟢 Long Trade Setup
Entry: Ladder between $1.58–$1.47
Avg. Entry: ~$1.53
SL: Below $1.40
TP1: $1.88 (local resistance) → R:R ≈ 1:2.5
TP2: $3.33 (0.618 Fib of entire bear market) → R:R ≈ 1:12
👉 Bonus TP for Harmonic Setup: 0.618 Fib of CD leg
✨ Bonus Confluence: Potential bullish Gartley Harmonic in Play
VIRTUAL is also forming a valid Gartley harmonic pattern — one of the most reliable reversal setups in classical trading theory.
🔸 XA: B retraced to 0.602 → ✅ (criterion: ~0.618)
🔸 AB: C retraced 0.87 → ✅ (valid range: 0.382–0.886)
🔸 CD: Projected to complete at 0.786 of XA → ~$1.474
• CD is a 1.356 expansion of BC
• AB ≈ CD symmetry is valid
• TP = 0.618 retracement of CD leg
This adds even more weight to the $1.47–$1.53 buy zone.
📘 Educational Takeaway
The best setups don’t rely on one method — they align multiple disciplines. Here, we have Elliott Waves, Fibonacci retracements, anchored VWAPs, volume structure, moving averages, time symmetry, and now a harmonic pattern — all pointing to the same opportunity. Most traders never wait for alignment. That’s why most lose.
💬 Final Words
✍️ Smart trading isn’t about always being in a trade — it’s about being in the right one at the right time.
While others FOMO at $2, you wait for the right opportunity to come to you — where structure, liquidity, and probability all shake hands.
The patient are rewarded. Always.
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Gartleyharmonic
Markets in Flux: EUR/USD Chart Hints at BreakoutGood morning Traders,
Trust you are well.
Below is my analysis of the current price action on EURUSD amidst the trade war.
Overview
EUR/USD is trading within a descending channel, showing signs of a potential bullish breakout. Price recently rejected the 1.08115 support zone with a strong wick, suggesting buyer interest. Globally, trade tensions are escalating—President Trump reintroduced 34% tariffs on China, with China responding in kind. The EU is also planning a 25% tariff on U.S. goods, sparking further risk-off sentiment. US hinting at further extending tariff on China to 50%.
Idea
This analysis suggests a buy-the-dip opportunity near 1.08115, with a likely breakout toward 1.10127 and beyond. Safe havens like CHF and JPY are gaining, reflecting rising risk aversion. Despite the short-term USD strength, prolonged trade wars could eventually weigh on the dollar.
Conclusion
EUR/USD is gearing up for a move. I will watch for a dip to support before a bullish push around 1.08115 and 1.07689. With trade wars heating up and risk sentiment dipping, commodities and currencies are about to get spicy.
Do trade with caution.
Cheers and Happy trading!
XRP - Bearish Gartley Pattern (Long & Short Positions)Confirmation:
Market Structure: The chart highlights a first weekly lower high and first weekly lower low, reinforcing a bearish trend.
Daily Fair Value Gap (FVG): Could serve as an additional target for the price.
Risk-to-Reward Ratio (RRR): The trade appears to have a favourable RRR, with an optimal entry around D.
1. Long Position (Counter-Trend Trade from C to D)
Trade Setup:
Entry: At point C, around the 0.882 Fibonacci retracement level.
Stop Loss: Below point A, ensuring protection against further downside.
Take Profit:
TP1: 38.2% retracement of the C-D leg.
TP2: 61.8% retracement of the C-D leg.
TP3: Full extension to point D (0.786 - 0.886 Fibonacci level).
Confluences for the Long Position:
✔ Bullish reaction at 0.882 retracement (potential demand zone).
✔ Daily Fair Value Gap (FVG) below adds liquidity, possibly supporting the price.
✔ Favorable risk-to-reward ratio (RRR).
2. Short Position (Bearish Reversal from D)
Trade Setup:
Entry: Around point D (between 0.786 - 0.886 Fibonacci retracement level).
Stop Loss: Above point X (invalidates the bearish Gartley setup).
Take Profit:
TP1: 61.8% retracement of the D-C leg.
TP2: B-point level.
TP3: Full retracement back to A (major structure level).
Confluences for the Short Position:
✔ Bearish Gartley completion at D.
✔ Key Fibonacci confluence at 0.786 - 0.886 retracement.
✔ Market structure suggests a lower high in a downtrend (weekly bearish trend continuation).
Pattern Type: Bearish Gartley
Key Levels:
X to A: Initial impulse move
A to B: Retracement to 61.8% Fibonacci level
B to C: Retraces deeper, around 88.2% Fibonacci level
C to D: Final leg completing at the 78.6% to 88.6% Fibonacci level
NVDA may form a bat harmonic within a pennant.NASDAQ:NVDA is potentially forming a bullish bat variation of the Gartley harmonic, within a pennant on the four-hour chart. As long as the earnings low at point B is maintained, there is potential for a reversal to point C next week, corresponding to the upper trendline from all-time highs.
Comprehensive Analysis of the Gartley Harmonic PatternThe Gartley Harmonic Pattern, a cornerstone of harmonic trading, was first introduced by H.M. Gartley in his 1935 book "Profits in the Stock Market." This pattern leverages Fibonacci retracement levels and geometric price formations to identify potential market reversals, providing traders with a strategic edge.
__________________________The Bullish Gartley Pattern___________________
Structure:
X-A Leg: The initial upward movement.
A-B Leg: A retracement of approximately 61.8% of the X-A leg.
B-C Leg: An upward move retracing between 38.2% and 88.6% of the A-B leg.
C-D Leg: The final downward movement, retracing 78.6% of the X-A leg, marking the pattern completion at point D.
Entry Criteria:
Entry Point: Enter a long (buy) position at point D, where the price is expected to reverse upward. This is typically the 78.6% Fibonacci retracement level of the X-A leg.
Stop-Loss:
Placement: Set a stop-loss order slightly below point X to safeguard against unexpected price movements. This minimizes potential losses if the pattern fails.
Take Profit:
First Target: Place the initial take profit target at point B, the retracement level of the A-B leg.
Second Target: Set the second target at point C, the retracement of the B-C leg.
Extended Targets: For a portion of the position, consider holding to capture further gains if the price continues to rise.
_________________________The Bearish Gartley Pattern_____________________
Structure:
X-A Leg: The initial downward movement.
A-B Leg: A retracement of approximately 61.8% of the X-A leg.
B-C Leg: A downward move retracing between 38.2% and 88.6% of the A-B leg.
C-D Leg: The final upward movement, retracing 78.6% of the X-A leg, completing the pattern at point D.
Entry Criteria:
Entry Point: Enter a short (sell) position at point D, where the price is anticipated to reverse downward. This corresponds to the 78.6% Fibonacci retracement level of the X-A leg.
Stop-Loss:
Placement: Set a stop-loss order slightly above point X to limit potential losses if the pattern does not play out as expected.
Take Profit:
First Target: Place the initial take profit target at point B.
Second Target: Set the second target at point C.
Extended Targets: Consider holding a portion of the position for additional gains if the price continues to decline.
_________________________Key Considerations__________________________
Precision: Accurate measurement of Fibonacci levels is critical. Even slight deviations can invalidate the pattern.
Confirmation: Utilize additional technical indicators or price action signals to confirm the pattern before initiating a trade. This can include moving averages, trend lines, or oscillators.
Risk Management: Adhere to strict risk management practices. This includes setting appropriate stop-loss levels and managing position sizes to protect capital.
____________________________Conclusion______________________________
The Gartley Harmonic Pattern is a sophisticated and reliable tool for identifying potential market reversals. By mastering the intricacies of both the bullish and bearish Gartley patterns, traders can enhance their analytical capabilities and improve trading outcomes. Integrating these patterns with other technical analysis methods and maintaining rigorous risk management protocols is essential for consistent trading success.
Incorporating the Gartley pattern into your trading strategy involves practice and diligence. Ensure that you continuously refine your skills in identifying these patterns and executing trades accordingly, always mindful of market conditions and broader economic factors.
BTCUSDT - Bullish Gartley Harmonic 31 May 2023A recent pullback from the weekend uptrend has posed a perfect opportunity for a Bullish Gartley Harmonic pattern formation. Key levels to hold (B) 26,850. Move will be invalidated should we lose this level. Possible sell entry, 0.618 fib extension from (A) to (B) or even (C) to (B) .. C to B first for rejection.
Gartley is not a sure indicator for price targets but only a guide. See www.investopedia.com for more info.
BTCUSDT - Possible Bullish Gartley Harmonic12 Hour Time Frame UTC+1
Fib pulled from X to A with confluence on 0.618 and nPoc (s) at 22,500 to 22,650 for first impulse move. Looking at a retest at these values. Should this retest fail, that would probably invalidate the pattern.
Should the pattern continue to play out, will be looking at resistance drawn from Fib pulled from A to B, 0.618 resistance or 0.888 typical Gartley Fib.
Should the pattern continue to play out, will be looking at a retracement back to daily at 0.782 between X and D impulse. Will be looking for a bounce at 0.382 (or 0.5 not on chart) for momentum to the upside as well to the upside.
BTCUSDT - Possible Gartley Harmonic sPossible Bullish Gartley Harmonic compared to monthly chart on right. Fib 0.382 and 0.618 mid point nicely aligned. Monthly time frame, not a one-to-one with left chart. Levels are roughly aligned with Harmonic pattern. Non technical. Time frame support/resistance levels not included. Time based Fib drawn from XABCD - point A to B to B. You have to draw 3 points. 1st from A. 2nd to Gartley B. 3rd to Gartley B. I personally am not keen on Time based Fib, yet to find decent confluence, but I think its a lack of understanding and education. I need to learn more.
If you have any questions or suggestions, please feel free to comment. Thank you.
LINKUSDT Potential Bearish Max GartleyAs we can see on the 4H chart, we have a Max Gartley pattern in formation. The PRZ - potential reversal zone - is very close. Pivot points can be observed in the Fibonacci Retracement. Fisher Transform Oscillators (www.tradingview.com) and Ehlers Stochastic Oscillator-LazyBear/) in bullish momentum.
LINKUSDT is in a 4H bullish momentum driven by the daily relief from the US market. Looking at the S&P500 chart, we can see price action testing the trendline of the channel from which it broke. Doesn't look like a big potential pullback - weak volume and bearish sentiment. Traders looking for a crucial point now coming soon. I'm expecting bears in control soon. As a side effect of possible lower lows in the US market, LINKUSDT could reach the ideal level for a short position by tomorrow.
At this juncture, with the expectation of days ahead for the weekend in a downward corrective, while the Dollar Index rises, and the market overbought on the daily chart, the pivot point D pointed to by the Max Gartley Bearish pattern seems to make perfect sense. We can see over the course of the day, as the S&P500 appears to visit the GAP up to the .886 Fibonacci Retracement level, LINKUSDT being pushed to another higher high near USD9.00. So we will have the range at PRZ when the market will be entering bearish momentum on the daily chart.
Prints on updates below.
BTCUSDT Upward Leg CD of a Bearish ABCDHi traders. A upward leg CD of a bearish Gartley Harmonic AB=CD in a concise golden mean ratio, as a move to make a double bottom, can be expected from this throwback reversal breakout of a broadening triangle. A rare combination with a total Fibonacci confluence. Good intraday trade. Stop at C point.