On this chart which is a bit of a mess i identified a butterfly pattern and with then Fib levels that are circled, there was support at this level on the red support box that goes backwards to sit in additional price that has respected this level there is also bullish divergence on the RSI indicator signaling that this market is about the reverse to the upside,...
Today iv Identified a very precise Bearish crab pattern, this thing is one of beauty, its been a while since iv ID'ed a pattern where price has respected the fib ratios so precisely, so for the brake down of What your looking at. . .
Gold lines - fib ratios
Blue Dotted lines - Fib retracement tool drawn from X to A point and B to C point.
Blue reversal bar -...
Here i can see descending triangle pattern forming, this is (NOT A TRADE IDEA BUT MERELY AN PASSING ANALYSIS IDEA) as the triangle is beginning to take shape we will know when the pattern is valid and complete when it brakes the bottom support area in this pattern. As the descending triangle is a bearish indicator to potential future price action this is further...
This is a lovely example of a bearish butterfly pattern, this pattern was identified when the first candle came down at the PRZ so i called it letter than usuall but better late than never
from this trade you would have entered on the first candle the reversed at the prz and would have entered at the completion of this candle as you can see the targets are as...
This is a almost perfect example of a perfect butterfly pattern with further validation from an AB=CD helping to reinforce the validity if this set up, this indicates strong resistance at these levels (blue box's are potential reversal zones) and an reversal signal to the downside i would look to sell this pair and take profits at the 0.382 retracement drawn from...
On this particular pair i am currently neutral in my bias, however that being said Bitcoin could be on the verge of a reversal the reason for this analysis lies within the harmonic trading approach, the first pattern that has been discovered is the biggest one which is the BAT, but in the harmonic trading approach it requires specific alignments to validate a...
• B point precise 0.618 retracement.
• C point 0.382–0.886 range.
• XA D point 0.786 retracement.
• B-C projection 1.13, 1.27, 1.41, 1.618.
• AB=CD 1.00.
BAT PATTERN (DICRETIONARY)-allows a little more leeniance with the shape of the pattern
XA D point retracement must have 0.886 in the potential reversal zone
B point retracement can be either 0.382 or 0.50
C point retracement 0.382 to 0.886
B to C projection minimum 1.618 ideally 1.618 or 2.0 but can be 2.24 or 2.618
AB=CD ideally 1.27(most common) but can be...
