I expect a mirroring of the price action from the left side of the B point.
Thus the CD leg should have the same (negative) slope as the XA leg.
Then I noticed that it would form a harmonic pattern and I checked out the harmonic ratios.
Turnes out that all are fib ratios. The OTE sweet spot is actually a fib ratio, too, but not many know it.
Out of interest I applied a fib expansion on the last beakout leg (broke out of inverse H&S)
and the typical target 0.764 - 1 falls right into my previously established target area.
To sum up, there is great confluence of resistance around 275 where I will be looking to sell.
Rightnow at 245 it's still a clear BUY up to 270 minimum !
Also check out the MAGNUS® Cycles on Bitstamp daily. It just plotted a rare buy signal aswell !
You can find it by typing "magnus" in the search box within the indicator menu.
Good Luck with your trading and take care :)
If you have any question feel free to PM me or leave a comment bellow.
Thus the CD leg should have the same (negative) slope as the XA leg.
Then I noticed that it would form a harmonic pattern and I checked out the harmonic ratios.
Turnes out that all are fib ratios. The OTE sweet spot is actually a fib ratio, too, but not many know it.
Out of interest I applied a fib expansion on the last beakout leg (broke out of inverse H&S)
and the typical target 0.764 - 1 falls right into my previously established target area.
To sum up, there is great confluence of resistance around 275 where I will be looking to sell.
Rightnow at 245 it's still a clear BUY up to 270 minimum !
Also check out the MAGNUS® Cycles on Bitstamp daily. It just plotted a rare buy signal aswell !
You can find it by typing "magnus" in the search box within the indicator menu.
Good Luck with your trading and take care :)
If you have any question feel free to PM me or leave a comment bellow.
