UnknownUnicorn4041773
On daily chart price is also in the PRZ of a bullish 5-0 further indicating a drop.
Testing resistance, possible drop to continue with downtrend. Though I suspect it is near its bottom.
Price is testing support, possible move upwards to continue current trend.
Just spotted it, I'm not very experienced with trading 5-0's, I've never traded one but I just spotted this baby and it seems to fit all of the criteria. There is also an AB=CD pattern in the final leg of the 5-0.
Bat formation formed on the 4h chart right in the PRZ of a butterfly on the daily. I'm going to enter based on the 4h chart and set my profits based off of the larger butterfly.
The AB=CD is the two thick yellow lines. PRZ of a Bat and PRZ of AB=CD line up very well.
Both Harmonic Patterns have overlapping PRZ. Forgot to put in price targets sorry.
Title says it all, Doji for the last candle is good indicator of reversal and a good entry point. T1 and T2 the 0.382 and 0.618. When T1 is hit move SL to break even on second position.
T1 and T2 at 0.382 and 0.618. PRZ is right at a support line. RSI is giving buy signal.
Butterfly and AB=CD pattern are approaching their PRZ which overlap adding to the probability of this trade, Also by the time price is in the PRZ the RSI should be OB. Also adding to the probability is the blue support line cutting through the PRZ. With all of these indicators overlapping in that one area there is a good chance price will reverse, sorry I forgot...
RSI also shows OB. Price is also at a significant resistance line shows in red. Both of these things increase the probability of the trade.