Bullish Gartley Pattern in Ethereum | Technical Analysis by Whaleagent | 8.12.2018
The Gartley pattern is the most common harmonic chart pattern. The bullish version of Gartley predicts an end to the short-term bearish bias and an upcoming trend higher. Once the price reaches point D, which in a perfect Gartley pattern is located between 127.2 and 161.8 Fibonacci extension zones, a rebound is expected. A profit-taking zone is between 38.2 and 61.8 Fibonacci of the CD points, depending on the trading style. A stop should be placed below the 161.8% Fibonacci extension zone. The Gartley pattern is easy to identify and trade it is quite reliable.
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