I took 1.2500 as the Higher resistance level decently tested and it works to me. Its 38.20% level remain untested.
Consequently with the published idea Harmonic Bearish Opportunities a potential Bearish Perfect Gartley reveals itself
A) At the time the Bulls will complete the potential Bearish Butterfly @1.11xx (50% Fibonacci) it will create the a B point at 61.80%XA retracement then, the bearish can push the price down to retest 1.07500 zone.
B) At 1.07500 zone the AB leg will be 61.80% retraced creating the C point; and the opportunity to complete AB=CD will still be valid so; the Bulls can rally the price to 1.12500 zone that is the 78.60%XA retracement and complete the Perfect Gartley.
C) The 38.20% retracement of a mayor movement that star at 1.25000 will be tested.
Disclaimer: Never trade any of my ideas; always make your own analysis...but if the idea works, you own a cup of tea, thanks
Consequently with the published idea Harmonic Bearish Opportunities a potential Bearish Perfect Gartley reveals itself
A) At the time the Bulls will complete the potential Bearish Butterfly @1.11xx (50% Fibonacci) it will create the a B point at 61.80%XA retracement then, the bearish can push the price down to retest 1.07500 zone.
B) At 1.07500 zone the AB leg will be 61.80% retraced creating the C point; and the opportunity to complete AB=CD will still be valid so; the Bulls can rally the price to 1.12500 zone that is the 78.60%XA retracement and complete the Perfect Gartley.
C) The 38.20% retracement of a mayor movement that star at 1.25000 will be tested.
Disclaimer: Never trade any of my ideas; always make your own analysis...but if the idea works, you own a cup of tea, thanks
