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Harmonicpatternspotential

USOIL After hitting all 3 targets on USOIL trade set up since $70 and all look set and done for USOIL the new data is telling us that may yet be the case! Now holding onto that $100 support, making a higher low and pivoting on that old supply line while showing bullish convergence on the oscillators we could still be in for higher prices! Here i identify a possible Bearish Gartley Harmonic that has a PCZ of $122.06 on the daily chart and per my post previously on USOIL on the 4hr chart a smaller wave structure bearish bat harmonic that has a PCZ of $114.72
TVC:USOIL
by jedtexas
PETRONET LNGA Bullish Harmonic AB=CD reversal was met by a slanting trend-line resistance which lead to a dip towards 88% retracement with the likelihood of a double bottom activating a Bullish Harmonic Shark. This up move can go till 225/235/255 as long as it does not break the lower base formed when the AB=CD was made. Harmonic Patterns are based on Fibonacci ratios which conform to specific alignments. They are among the fastest to give reversal signals unlike oscillator based systems.
NSE:PETRONETLong
by Dinesh_C_Nagpal
1
ABCD PATTERN THE ABCD PATTERN IS THE MOST IMPORTANT PART OF ANY PATTERN. THIS IS DRILLED IN SCOTT CARNEYS BOOKS. WHAT YOU SEE THE BC PROJECTION IS A 1.618. NOW IN THE BOOKS IT GIVES THE RECIPICOL NUMBERS OF ALL THE NUMBERS USED IN THE ABCD PATTERN. THIS IS A .618 AB RETRACEMENT FOR THE C POINT. THIS IS ANOTHER PIECE OF THE PRZ. NOW THIS IS A BIT CONFUSING BUT THIS MIGHT NOT BE THE COMPLETION POINT. THE COMPLETION POINT IS FOUND BY USING THE FIBO EXTENSION TOOL. THE INTERSTING THING ABOUT THE FIBO EXTENSION COMPLETION IS THAT ITS INDICTIVE OF A IMPERFECT AB RETRACEMENT. THE FURTHER AWAY THE B POINT IS FROM THE TRUE FIB RETRACEMENT WILL SHOW IN THE EXTENSION. AS ONE SEES THE YELLOW LINE IS THE EXTESION COMPLETION POINT. THE EXTENSION IS A CONTROVSIAL TOOL BECASUE TRADERS USE IT ONE OF TWO WAYS. 1. THEY WILL PLOT IT FROM POINT A -> B-> C (WHICH IS THE WAY I USE IT AND MY NUMBERS ALWAYS LINE UP CORRECTLY. 2. OR THEY WILL GO FROM POINT A-> B-> A. NOW DOING THIS USUALLY EXPANDS THE PRZ CONSIDERABLY AND MIGHT BE BENEFICIAL FOR VOLITLE PRICE ACTION BUT IT MAKES THE PATTERN FLAWED AND UNTRUE, IN MY OPINION. THIS IS ANOTHER PIECE OF THE PRZ AND THE FINAL PIECE.
by ARegularGuy