The GBPUSD market seems to be setting 3 different potential harmonic patterns within the same area.
1) In blue we have a Cypher Pattern
2) In yellow we see a Bat Pattern
3) In red we see a Gartley Pattern
In a perfect world, we´d be able to sell the Gartley all the way to the buying point of the Cypher for example. We can only dream :D.
I will update this post with further analysis, as the market continues moving.
1) In blue we have a Cypher Pattern
2) In yellow we see a Bat Pattern
3) In red we see a Gartley Pattern
In a perfect world, we´d be able to sell the Gartley all the way to the buying point of the Cypher for example. We can only dream :D.
I will update this post with further analysis, as the market continues moving.
Note
I just realised that the potential Bat Pattern doesn't meet the requirements to qualify as one.The B point retraces and closes at the 0.618 level of the X-A move, this is well below the required range of 0.382-0.500.
My bad :P
Note
Red Gartley trade is now active, with a small positive equity
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.