Previous Harmonic Move:
Previously I have posted chart where the price action of BQX was forming bullish BAT. And at that time the price action was moving above the potential reversal zone of this harmonic pattern. And at that time I was expecting soon it will enter in PRZ level to give us buying signal. And eventually it entered in potential reversal zone and moved up for more than 46% profit on a very short term 2 hour based chart.
Another harmonic move:
Now this time on 2 day chart the price action of BAQ has formed another bullish harmonic pattern and this time it is again bullish Gartley. And this is another awesome opportunity to earn more profit. This time the profit probability is up to 100%.
Let's dig this pattern deeper to see how perfectly this pattern is driven:
The first leg was started from 25 Dec 2019 to 12 Feb 2020 and after that the next A to B leg is retraced between 0.618 to 0.786 Fibonacci levels, then B to C leg is moved up to the Fibonacci projection level between 0.382 to 0. 886 Fibonacci and that is the Fibonacci projection of A to B leg. Then C to D leg is retraced between 0.618 to 0.786 Fibonacci levels and now the formation of bullish Gartley is completed here.
At this time the priceline is entered in the buying zone and we can place our buying orders in this area.
Buying And Sell Targets:
The buying and sell targets according to harmonic Gartley pattern should be:
Buy between: 0.00000453 to 0.00000356
Sell between: 0.00000526 to 0.00000712
The potential reversal zone area which is up to 0.00000356 sats can be used as stop loss in case of complete candle sticks closes below this level.
This idea is for short and midterm traders not a long term idea, I will be keep posting more trading ideas.
Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.