ETHBTC confirmed bullish movement by forming Gartley
Hi guys:
In day chart the ETHBTC is likely to form a gartely pattern after forming the X to A leg the priceline dropped between 0.618 to 0.786 Fibonacci retracement of X to A leg which has confirmed the B leg which is exactly required for Gartley but further it depends on formation of C leg whether it is going to follow the gartley or not, in most of the cases if the B leg forms perfect then the priceline follows the complete Gartley pattern like here the B leg is formed perfect so if we buy it here then we can place the sell order between 0.03470 to 0.037512.
The RSI has already touched the oversold zone and its upward movement is also giving us the confirmation of formation of C leg insha Allah.
Best of luck and Regards,
Atif Akbar (Moon333)
In day chart the ETHBTC is likely to form a gartely pattern after forming the X to A leg the priceline dropped between 0.618 to 0.786 Fibonacci retracement of X to A leg which has confirmed the B leg which is exactly required for Gartley but further it depends on formation of C leg whether it is going to follow the gartley or not, in most of the cases if the B leg forms perfect then the priceline follows the complete Gartley pattern like here the B leg is formed perfect so if we buy it here then we can place the sell order between 0.03470 to 0.037512.
The RSI has already touched the oversold zone and its upward movement is also giving us the confirmation of formation of C leg insha Allah.
Best of luck and Regards,
Atif Akbar (Moon333)
Trade closed: target reached:
I would suggest to close the trade now or soon coz after reaching 1st target the day stochastic rsi is exhausted and rsi will be overbought soon.