Motion AB: Point B is the most important level of the impeller pattern, which should be at 78.6% of the XA wave.
BC movement: BC movement should continue until the Fibonacci retracement of 38.2% or 88.6% of the AB wave.
CD Motion: If BC is 38.2% of the AB wave, the CD wave is likely to reach 161.8% of the BC wave. But if BC is as much as 88.6% of the AB wave, CD...
Hi,
Above, some harmonic patterns that i often look for (bullish ones)
These patterns, when identified, have a good risk/reward ratio. They allow traders to enter into the market with minimal risk. Obviously, you need some other confirmations before taking the trade on the pattern completion.
If the point D occurs with some divergence on classic oscillators (RSI...