Potential reversal zone at around 290.00 due to horizontal resistance from previous structure and a possible Bearish Gartley D leg completion.
Looking for an opportunity to go long at an area of confluence consisting of: - horizontal daily support - ascending trendline dating back to December 2016 - potential Bullish Cypher pattern
Two potential Gartley pattern on the 4H and Daily timeframe. Notice how both buy areas line up with Daily support levels.
Potential short area at around 0.89700 at the D leg completion.
Bullish Cypher and Gartley complete their D leg at around 88.00 psychological level for an opportunity to go long.
High probability buy area at around 1.69 at a potential D leg completion and 78.6% Fib retracement from last years low to this years high which lines up perfectly with horizontal support. Note: Fib levels have been respected very well, especially in the last 4 weeks.
Bullish Harmonic combo lines up with monthly support at around 87.500
Potential Bearish Cypher and reversal at around 1.0200.
Potential bullish reversal area at 1.405/410 where a potential D leg meets monthly support.
We might see a third bounce off wedge resistance and horizontal resistance at around 148.300 dating all the way back to 1993/2000. Today price already showed rejection and formed a bearish engulfing/pinbar.
Potential bearish Gartley pattern on the 4H timeframe and an opportunity to short at around 0.9720/30.