GBPUSD still on the right track hitting the TP3 and going to the D Point to Complete the Harmonic Pattern. Still on SELL Mode until the D Point Reach before shifting to BUY Mode. Thank you to consider my analysis formed last week.
What is harmonic patternWK2? I can see here is forming a potential harmonic bullish gartley pattern.And if you know harmonic pattern you must trade only at the completion point D.I am harmonic trader but these 4 targets are completely out of sense.
Tiopabs1109
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@tmanuelasorina, this analysis is only a forecast when i plot it.
wonderbro
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Please explain your placement of the B point.
Tiopabs1109
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@wonderbro, XA: This could be any move on the chart and there are no specific requirements for this move in order to be part of a harmonic pattern.
AB: This move is opposite to the XA move and it should be about 61.8% of the XA move.
BC: This price move should be opposite to the AB move and it should be 38.2% or 88.6% of the AB move.
CD: The last price move is opposite to BC and it should be 127.2% (extension) of BC move if BC is 38.2% of AB. If BC is 88.6% of AB, then CD should be 161.8% (extension) of BC.
AD: The overall price move between A and D should be 78.6% of XA