Real nice bullish gartley here on the 4hr/6hr with bullish divergence and 3 bullish japanese candle stick patterns between the 2 time frames (pin bar / engulfing 6hr, rising 3 methods on the 4hr)
ADX indicates that the bear trend is fading while volatility contracts.
Momentum slowing down a little bit but still bullish as we backtest the .236 for support, perhaps a checkback and continuation setting up.
Obviously its pertinent to keep BTC in mind and the larger macro as well, but its a real nice start here.
Your stop should be tight in these market conditions until we get further validation, in the case of the gartley, one would consider the pattern failed if we fell under (D) at this point considering the rest of the variables.
ADX indicates that the bear trend is fading while volatility contracts.
Momentum slowing down a little bit but still bullish as we backtest the .236 for support, perhaps a checkback and continuation setting up.
Obviously its pertinent to keep BTC in mind and the larger macro as well, but its a real nice start here.
Your stop should be tight in these market conditions until we get further validation, in the case of the gartley, one would consider the pattern failed if we fell under (D) at this point considering the rest of the variables.
