🔹 Harmonic Pattern (Possibly a Gartley or Bat)
The chart shows a clear ABCD pattern, suggesting a potential reversal zone around point D.
• A → B → C → D structure is visible.
• Based on Fibonacci ratios:
• AB ≈ 0.75 retracement (close to Bat or Gartley pattern)
• BC ≈ 1.32 extension, which also fits harmonic rules
📌 Point D is around 1.1077, which is likely a resistance/reversal area.
⸻
🔹 RSI (Relative Strength Index)
• RSI is around 50, indicating neutral momentum (not overbought or oversold).
• It’s starting to curve upward, which could signal a build-up in buying strength.
⸻
🔹 MACD
• A bullish crossover is visible (MACD line crossing above the signal line).
• Histogram turning positive = early bullish signal.
⸻
🔹 Summary & Trade Scenarios
✅ Bullish Scenario:
• If price breaks above 1.1077 with strong volume, it may target 1.15 or higher.
• Confirmation needed: candle close above D zone (1.1077) with volume support.
❌ Bearish Scenario:
• If price retests 1.1077 and fails, it might reverse toward support around 1.00 or even 0.95.
• Watch for bearish divergence or rejection candles near D.
⸻
🎯 Suggested Strategy:
• Long setup: If price breaks and holds above 1.108, target 1.15, stop-loss below 1.05
• Short setup (more conservative): If price rejects from 1.1077, consider short with target 1.00
The chart shows a clear ABCD pattern, suggesting a potential reversal zone around point D.
• A → B → C → D structure is visible.
• Based on Fibonacci ratios:
• AB ≈ 0.75 retracement (close to Bat or Gartley pattern)
• BC ≈ 1.32 extension, which also fits harmonic rules
📌 Point D is around 1.1077, which is likely a resistance/reversal area.
⸻
🔹 RSI (Relative Strength Index)
• RSI is around 50, indicating neutral momentum (not overbought or oversold).
• It’s starting to curve upward, which could signal a build-up in buying strength.
⸻
🔹 MACD
• A bullish crossover is visible (MACD line crossing above the signal line).
• Histogram turning positive = early bullish signal.
⸻
🔹 Summary & Trade Scenarios
✅ Bullish Scenario:
• If price breaks above 1.1077 with strong volume, it may target 1.15 or higher.
• Confirmation needed: candle close above D zone (1.1077) with volume support.
❌ Bearish Scenario:
• If price retests 1.1077 and fails, it might reverse toward support around 1.00 or even 0.95.
• Watch for bearish divergence or rejection candles near D.
⸻
🎯 Suggested Strategy:
• Long setup: If price breaks and holds above 1.108, target 1.15, stop-loss below 1.05
• Short setup (more conservative): If price rejects from 1.1077, consider short with target 1.00
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.