Harmonics are beautiful things. But what are they?
Harmonics are repeating patterns that can be found in markets all across all markets. They represent repeat patterns of human psychology.
The gartley is one of the most reliable harmonics that there is.
The gartley harmonic starts at X.
The first impulse location is referred to as A.
It typically does a 618 retrace to make the B.
Then it retrace back towards a again; somewhere between 382 and 886 of a retrace of the A-B impulse. This is the C.
The final move is approximately a 786 retrace of the macro structure usually near a candle close and not always exactly at the 786 line. Just very near it. This last location is the D.
X to A to B to C to D.
Bitcoin has just created and xabcd bearish gartley. We are at the arrow on the right side right now. We just rejected at the candle close arrow you can see on the left side of the screen.
So...
Does the bearish gartley play out? Time will tell. You must look for coinciding variables.
There is bearish divergence on the 3day chart right now on multiple oscillators. I'm inclined to say we are in a bearish gartley right now.
Good luck bulls.
Harmonics are repeating patterns that can be found in markets all across all markets. They represent repeat patterns of human psychology.
The gartley is one of the most reliable harmonics that there is.
The gartley harmonic starts at X.
The first impulse location is referred to as A.
It typically does a 618 retrace to make the B.
Then it retrace back towards a again; somewhere between 382 and 886 of a retrace of the A-B impulse. This is the C.
The final move is approximately a 786 retrace of the macro structure usually near a candle close and not always exactly at the 786 line. Just very near it. This last location is the D.
X to A to B to C to D.
Bitcoin has just created and xabcd bearish gartley. We are at the arrow on the right side right now. We just rejected at the candle close arrow you can see on the left side of the screen.
So...
Does the bearish gartley play out? Time will tell. You must look for coinciding variables.
There is bearish divergence on the 3day chart right now on multiple oscillators. I'm inclined to say we are in a bearish gartley right now.
Good luck bulls.