Previously, we've seen a Gartley pattern complete and reach the target level (61.8% retracement) of the CD leg. In the chart provided, i have drawn out the AB=CD harmonic tool to help with the projection of this pattern. We've had no candles close below the 61.8% fib, so that's a good sign for me and is why i now have a long bias. C leg of the AB=CD harmonic pattern has been reached and now we are seeing bullish price action play out and now we aim for the D leg (-27% retracement) where relative price points 1.18525 and 1.18628 are.
Comment:
Note: the D2 extension -61.8% of the AB=CD pattern can also be used as a take profit target as well
Comment:
Nice bullish price action on the daily time frame.