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Gartley

BTC 4hr Gartley support and resistance 9/22/24 Gartley Pattern: This updated chart seems to continue the earlier observed structure, resembling a Gartley pattern. The key points in the structure are: 1. X to A: The steep uptrend from February to the peak around April/May, marking the first major leg of the pattern. 2. A to B: A decline starting from May to around June, signifying the downward retracement of the first leg. 3. B to C: The rebound from June to around August/September, forming the second leg of the W-shape. 4. C to D: The final leg is projected upward, suggesting that the price could rise again towards the $70,000 level, completing the pattern. This structure implies a bullish Gartley pattern, where a final leg to the upside is expected if the key Fibonacci retracement levels hold. Fibonacci Levels: Using Fibonacci retracements and extensions helps confirm the strength and potential of this pattern. XA Retracement (A to B): In a Gartley, the retracement from X to A (the first decline) typically hits the 61.8% Fibonacci level. In this chart, the decline from May to June retraces a large portion of the previous uptrend, indicating a strong move. The sharp retracement aligns with the idea of a Gartley. AB Retracement (B to C): The retracement of the second leg (B to C) is commonly between 38.2% and 88.6% of the AB leg. Here, the move from June to August aligns with this, forming a significant bounce. CD Extension: The last leg (C to D) typically extends to 127.2% to 161.8% of the BC leg. The projected upward movement toward $70,000 fits within this Fibonacci extension zone, which would mark the completion of the Gartley. Support and Resistance Levels: Support: Key support levels are around $48,000 to $50,000, which has been a consolidation point before the projected upward leg. This is reinforced by both the Fibonacci retracement and previous price action. Resistance: The final target of the upward move aligns with $70,000, where a Fibonacci extension matches earlier highs. Conclusion: The chart suggests a bullish continuation in Bitcoin’s price action, following the pattern's upward projection toward $70,000. The Gartley pattern and Fibonacci levels reinforce the potential for this upward move, provided the key support levels hold above $48,000. Traders might look for buying opportunities near the current support zones, while watching for resistance around $70,000.
BITSTAMP:BTCUSD
by ILL_Midas
SMCI Bottom and Christmas Rally To ComeLight Fundamental: It is a stock called SMCI (or Super Mico Computer). It is a US company that makes super powerful computers and servers. The world needs servers to help run things like big websites, apps, and AI. The stock price fell by half. So, it is selling at a discount for what it is really worth. So, it is a good chance to buy it. Technicals: Gartley-like pattern diagonal support engulfing bullish pattern with d3 volume and volume confirmation a-b-c completion at a 78.2% fib pullback Entry is above the weekly engulfing bullish candle at 475.44. Target is, tentatively, 1500. Note: preparing for either an election rally or a Christmas rally in stocks
NASDAQ:SMCILong
by Rocketman
AUDUSD M15, Intraday TradeI just shorted AUDCAD, Bearish 5-0 Pattern on the 1-hourly chart, and now AUDUSD on this Bearish Gartley Pattern. It seems like the Australian dollar may have a bearish movement for the next couple of hours. If you have been following, you should know I don't usually trade on the M15 chart, but this one has an upsize trade component. What is an upsize trade? An upsize trade is a trading setup that allows me to stretch my final target to the next pattern completion. It's a Trade Management skill that I've used for years. Before using it, You must be very familiar with the product and strategy.
Short
by RaynLim
Fetch AI Gartley PatternFetch AI (or ASI, depending on Binance's ticker update) has been in a consistent downtrend from its peak at $3.48. It appears in a bottoming range, forming a classic Gartley pattern. Key Levels to Watch: Immediate Test Levels: The price will likely test the $1.00 - $1.18 range soon. Accumulation Range: Any pullback to the accumulation zone between $0.70 - $0.94 would present a strong buying opportunity. Targets Upon Breakout: Target 1: $1.76 Target 2: $2.41 Target 3: $3.10 Risk Management: Stop Loss: Set at $0.50 to manage downside risk. A close above the downtrend line will confirm the breakout, potentially driving the price towards the T1 and T2 targets. Keep an eye on any pullbacks into the accumulation range, as these could provide optimal entry points for a potential upside move.
by TechChartMark
buy at zone - intraday / swingENTRY - lines marked below is potential reversal zone ( PRZ) - entry is strictly inside the zone - look for buying confirmation in smaller time frame ( 15 minutes preferred ) EXIT 1. target - mark fib retracement from C to latest swing low - TGT 1 - 0.236 fib level ( intraday tgt) - TGT 2 - 0.382 fib level - TGT 3 - 0.5 fib level ( preferred target ) 2. SL - candle close below (PRZ) - if u didn't get confirmation inside the zone , ignore this pick - if candle close is below zone , this pattern becomes invalid . IGNORE THIS PICK - RE-ENTRY can be done , if u again get buying confirmation inside the zone
NSE:UBLLong
by rajeevmmails
Unfolding Patterns in Gold: Bullish Gartley and Bearish CypherGood day traders, It's been a while, and I trust everyone has been doing great. Permit me to share my thoughts on the Gold market and the potentially unfolding patterns I am anticipating. In the current gold market, I have identified two potential harmonic patterns that may be unfolding. The first and larger pattern is a potential bullish Gartley pattern. The X leg originates at 2286.83, and the A leg peaks at 2483.74, establishing the impulse legs. The B leg appears to have completed at 2365.915, corresponding to a 61.8% retracement of the XA leg. At the B leg, the price seems to be finding support. If this support holds, I anticipate a rally towards the 2430-2442 region to form the C leg. Subsequently, I would expect a price drop, provided it is indeed a Gartley pattern. A decline below 2341.540 would invalidate the Gartley pattern formation. The second and smaller pattern is a potential bearish Cypher pattern. The X leg began at 2483.74, and the A leg seems to have completed at 2383.930. The XA leg was retraced by less than 50% Fibonacci at 2413.715, forming the B leg. Currently, it appears that the price is finding support at 2365.915, which could potentially be the C leg. If this support level holds, we might expect a rally towards the 2430-2442 region, confirming the larger Gartley pattern. If the Cypher pattern is valid, we could see a further rise in price towards the 2471.64 and 2480.00 region to complete the bearish Cypher before a subsequent drop. A drop below 2363.655 would invalidate the potential Cypher pattern formation. It would be best to wait for a break above the 2384.518 price region in order to allow the market show commitment to move higher. This could provide additional confidence in the outlined outlook. Please note that these patterns may not be formed eventually. Cheers and happy trading!
OANDA:XAUUSDLong
by Samuel124
6
USD/CHF Bearish Gartley Pattern Indicates Potential DowntrendThe USD/CHF currency pair is forming a Bearish Gartley Harmonic Pattern, signaling potential downward movement. This pattern is aligning with a key resistance area, adding further confluence to our bearish outlook. Key Resistance and Trendline Confluence: Price action has shown a strong rejection at a key resistance level, which coincides with a downward trendline and the 78.6% Fibonacci retracement level. This confluence of technical indicators strengthens our bearish sentiment for the USD/CHF pair. Entry and Stop Loss: Given the current market conditions and the formation of the Bearish Gartley Pattern, our entry point is set at 0.89442. To manage risk, a stop loss is placed at 0.89864, slightly above the resistance area to account for potential market fluctuations. Take Profit Levels: We have identified three key take profit levels based on historical support areas and Fibonacci extensions: TP-1: 0.89020 TP-2: 0.88598 TP-3: 0.88176 Analysis Summary: The alignment of the Bearish Gartley Harmonic Pattern with the key resistance area, trendline, and the 78.6% Fibonacci level provides a high-probability trading opportunity. The rejection at these confluences suggests potential bearish momentum, making this a suitable trade setup with well-defined entry, stop loss, and take profit levels. Traders should monitor the price action closely around these levels to adjust positions as necessary.
Short
by MZ_FX_
2
NZD/CHF Bullish Gartley Pattern Suggests Uptrend PotentialBullish Gartley Harmonic Pattern Formation: The NZD/CHF currency pair is currently forming a Bullish Gartley Harmonic Pattern, indicating potential upward movement. This pattern is aligned with a significant support area, reinforcing our bullish outlook. Key Support and Trendline Confluence: The price has received a strong rejection at this key support level, which coincides with a critical trendline and the 78.6% Fibonacci retracement level. This confluence of technical factors strengthens the likelihood of a bullish reversal. RSI Divergence: Adding to our bullish sentiment is the RSI divergence observed on the 4-hour time frame. The RSI is showing signs of divergence, suggesting a potential shift in momentum in favor of the bulls. Trade Setup: Entry Point: 0.54125 Stop Loss: 0.53460 Take Profit Targets: TP-1: 0.54790 TP-2: 0.55455 TP-3: 0.56120 Conclusion: Based on the alignment of the Bullish Gartley Harmonic Pattern, key support area, trendline, 78.6% Fibonacci retracement level, and RSI divergence, we anticipate a potential bullish move in the NZD/CHF pair. Traders should consider entering at the specified entry point with the given stop loss and take profit targets for an optimized risk-reward ratio.
Long
by MZ_FX_