GMXUSDT (Bullish)
Harmonic Pattern Completion: If the pattern completes, the price might rise towards the D point, which is typically at the 88.6% retracement of XA.
Fibonacci Support: The 61.8% Fibonacci level (27.63) is a strong support zone, suggesting a possible reversal from this point.
Elliott Wave Theory: The corrective wave (ABC) aligns with the harmonic pattern, adding confluence to the analysis.
-The analysis suggests a potential bullish reversal from the current level (around 27.68), aiming towards the D point of the harmonic pattern. However, keep an eye on key support levels and validate the pattern completion with price action before making any trading decisions. Always consider using stop-loss orders to manage risk.
Fibonacci Support: The 61.8% Fibonacci level (27.63) is a strong support zone, suggesting a possible reversal from this point.
Elliott Wave Theory: The corrective wave (ABC) aligns with the harmonic pattern, adding confluence to the analysis.
-The analysis suggests a potential bullish reversal from the current level (around 27.68), aiming towards the D point of the harmonic pattern. However, keep an eye on key support levels and validate the pattern completion with price action before making any trading decisions. Always consider using stop-loss orders to manage risk.
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