The similarity between harmonic and basic chart patterns is that, for each of them, the shape and structure are key factors to recognizing and validating a specific pattern. The next price movement can thus be projected with the goal of turning these patterns into profits. However, a key difference is that harmonic patterns are defined more precisely. They are 5-point reversal structures, containing combinations of well defined consecutive Fibonacci retracements and Fibonacci extensions, leaving less room for flexible interpretation.
Harmonic patterns continuously repeat themselves, especially in consolidating markets. There are basically 2 types of patterns: 5-point retracement structures like the Gartley and the Bat and 5-point extension patterns like the Butterfly and the Crab. Trading harmonic patterns requires patience because, due to the specificity of the ratios, patterns that appear harmonic may not be if they don't align with the proper measurements.
Technical analysis:
. BasicAttentionToken/Dollar is in a downtrend and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 42.
. While the RSI and the price downtrend in the Daily chart are not broken, bearish wave in price would continue.
Trading suggestion:
. There is still a ...
38.2% & POSSIBLE 61.8% Retracement SHORT GWAVE.
FIB Retracement Percentage is calculated in a Higher Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.
FIB Retracement Percentage is calculated in a Higher Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.
FIB Retracement Percentage is calculated in a Higher Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
We already have swing trade setup here :
https://uk.tradingview.com/chart/GBPUSD/qCaxnlQD-GBPUSD-swing-trade/
For intraday setup,
We can buy GBPUSD -0.06% right now, and aim for channel down resistance as temporary target.
If this resistance break up, we can set new target at classic support and resistance .
Check our video analysis to understand better about ...
Technical Analysis :
Pair in very strong resistance areas represented:
1. Historical Resistance The pair has been very strong and has fallen strongly represented by point C of the Saifir pattern
On the daily perm
2 - Strong Buy Boundaries Close to the top at resistance levels in Stochastic , RSI and CCI
3-opportunity to sell another list at the highest ...
Technical Analysis:
The pair is now at very strong resistance levels represented
1 - resistance levels reached the pair less than a year ago and these levels were good for the pair represented 1.3200-1.3310 in the long and medium term at both levels of Fibonacci 61.8-78.6
2 - very clear indications on the oscillators Stochastic and RSI near reaching the peak ...
38.2% & POSSIBLE 61.8% Retracement SHORT GWAVE.
FIB Retracement Percentage is calculated in a Higher Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
