ETHUSD - Quick Short - Fib Retrace on 30min?
Fibonacci Retracement of last move down from $106 to $100 + Bearish Gartley.
.50 Fib level would have to hold around Point C ($103.23), then move up to Point D (downtrend line. $105 area) to validate. The last move, did not reach target of $95 (see below), but given the psychological strength of $100 level, I suppose I'm not surprised and maybe that move completes after this one.
Price Action is running out of room next to the downtrend line - previous 4-5 attempts didn't go so well, ending in pretty significant moves down.
Good luck, Traders.
Wait for Volume!
.50 Fib level would have to hold around Point C ($103.23), then move up to Point D (downtrend line. $105 area) to validate. The last move, did not reach target of $95 (see below), but given the psychological strength of $100 level, I suppose I'm not surprised and maybe that move completes after this one.
Price Action is running out of room next to the downtrend line - previous 4-5 attempts didn't go so well, ending in pretty significant moves down.
Good luck, Traders.
Wait for Volume!
Trade attivo
Stoch RSI hanging out around 4 on the 1H Time frame. If it finds support at the .50 Fibonacci, should bring it up to point D. If history repeats and this pattern validates, still looking like a move down. Still room to crawl around the $100 line to the Descending Trend line Channel but we'll see if the bears break it down on this leg:I'm not putting a great deal of stock in the Daily Bearish Gartley pattern, but it has given me something to think about.
Trade attivo
Numbers still look good with adjustments to price action. 1H Stoch RSI Still bottoming around 1 to .7 - could turn up and still hit upper mark. We'll find out what the market wants to do when it hits that line again - as I would expect volatility to strike againNota
Pattern invalidated.
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Declinazione di responsabilità
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