Price actions of world's 88th ranked cryptocurrency Matic Network (Matic) with US Dollar pair and Matic with Bitcoin pair has formed bullish Gartley patterns and entered in potential reversal zones
Lets have a look on both patterns:
In both charts (Matic with US Dollar pair and Matic with Bitcoin pair) have made almost same moves.
After initial leg (X to A) the A to B leg is retraced between 0.618 to 0.786 Fibonacci and then B to C leg is projected between 0.382 to 0.886 of A to B leg's Fibonacci projection and formation of final (C to D) leg is retraced between 0.618 to 0.786 Fibonacci as required for bullish Gartley pattern, and after crossing 0.618 Fibonacci level we are in potential reversal zone.
The formation of both charts is as below:
Matic with US Dollar pair:
Matic with Bitcoin pair:
And the targets for both trading ideas are as below respectively:
Targets for Matic with US Dollar pair:
uy between: $0.01459 to $0.01313
Sell between: $0.01574 to $0.01851
Targets for Matic with Bitcoin pair:
Buy between: 0.00000213 to 0.00000196 sats
Sell between: 0.00000228 to 0.00000261 sats
So as above targets in US dollar pair Matiic has potential to give upto 40% bullish move and in Bitcoin market the Matic has potential to give upto 33% gains, however we can set our stop loss points below the potential reversal zones of these patterns in case of complete candle stick closes below these areas.
Regard,
Atif Akbar (moon333)
The harmonic moves analysis involves hours of hard work and determination however the success of harmonic trading in fiat and cryptocurrencies is around 80% therefore it is always important that you follow any stop loss strategy while trading harmonic patterns I have also shared a stop loss idea in this article, the information in this article is for educational purpose only this is not an investment advice, I have tried my best to catch the harmonic moves as per predefined classical harmonic Gartley pattern if you find any flaw or you have any suggestion feel free to share with me in comments section.
