1. Market Analysis:
Asset: ADA/USDT (Cardano vs. USDT)
Pattern: Bullish Gartley harmonic pattern detected on the daily timeframe.
Key Levels: Price is approaching the D-point, which is at the 78.6% Fibonacci retracement of the XA leg, near a strong support zone, signaling a potential bullish reversal.
2. Gartley Pattern Details:
XA Leg: Strong initial move upward.
AB Leg: Retraces approximately 61.8% of XA.
BC Leg: Extends between 38.2% and 88.6% of AB.
CD Leg: Completes at 78.6% retracement of XA (D-point).
D Completion Zone: A critical area to monitor for bullish price action.
3. Trade Setup:
Entry Point:
Enter a long position at or near the D-point when a bullish reversal signal is confirmed (e.g., bullish engulfing, hammer candlestick, or a pin bar).
Stop-Loss:
Place the stop-loss slightly below the D-point or the nearest support level to protect against pattern invalidation.
Take-Profit Levels:
TP1: 38.2% Fibonacci retracement of the CD leg.
TP2: 61.8% Fibonacci retracement of the CD leg.
TP3 (Optional): Full retracement to the XA high.
4. Risk Management:
Position Size: Use proper risk management, risking no more than 1-2% of your trading capital.
Risk-Reward Ratio: Aim for at least a 1:2 risk-reward ratio.
5. Additional Confirmation:
Volume Analysis: Look for an increase in volume as the price reaches the D-point, which indicates strong buying interest.
Oscillator Signals: Use RSI or MACD to confirm oversold conditions or bullish divergence near the D-point.
6. Trade Execution:
Order Placement:
Set a buy limit order near the D-point if confident in the pattern.
Alternatively, wait for a confirmed bullish signal before entering the trade.
Trail Stops: Adjust stop-loss as the trade progresses to secure profits and reduce risk.
Asset: ADA/USDT (Cardano vs. USDT)
Pattern: Bullish Gartley harmonic pattern detected on the daily timeframe.
Key Levels: Price is approaching the D-point, which is at the 78.6% Fibonacci retracement of the XA leg, near a strong support zone, signaling a potential bullish reversal.
2. Gartley Pattern Details:
XA Leg: Strong initial move upward.
AB Leg: Retraces approximately 61.8% of XA.
BC Leg: Extends between 38.2% and 88.6% of AB.
CD Leg: Completes at 78.6% retracement of XA (D-point).
D Completion Zone: A critical area to monitor for bullish price action.
3. Trade Setup:
Entry Point:
Enter a long position at or near the D-point when a bullish reversal signal is confirmed (e.g., bullish engulfing, hammer candlestick, or a pin bar).
Stop-Loss:
Place the stop-loss slightly below the D-point or the nearest support level to protect against pattern invalidation.
Take-Profit Levels:
TP1: 38.2% Fibonacci retracement of the CD leg.
TP2: 61.8% Fibonacci retracement of the CD leg.
TP3 (Optional): Full retracement to the XA high.
4. Risk Management:
Position Size: Use proper risk management, risking no more than 1-2% of your trading capital.
Risk-Reward Ratio: Aim for at least a 1:2 risk-reward ratio.
5. Additional Confirmation:
Volume Analysis: Look for an increase in volume as the price reaches the D-point, which indicates strong buying interest.
Oscillator Signals: Use RSI or MACD to confirm oversold conditions or bullish divergence near the D-point.
6. Trade Execution:
Order Placement:
Set a buy limit order near the D-point if confident in the pattern.
Alternatively, wait for a confirmed bullish signal before entering the trade.
Trail Stops: Adjust stop-loss as the trade progresses to secure profits and reduce risk.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.