Gartley 222 pattern gonna appear at DISCA chart
NASDAQ:DISCA
Hi guys
In the chart above I draw what I found at DISCA chart, really strong bullish Fibo Cluster, where 3 types of analyses meet each other:
1) Elliott cycles - from 31 December 2013 to 16 November 2017 there was a bearish downtrend, long correction of the previous cycle, but it was completed on 16 November 2017 and next bullish cycle had started. I calculated 1 wave, it's completed already and currently 2 wave is forming itself as a simple Zigzag. Waves A and B have been completed already, wave C is appearing now. I did fibo extention of wave A and suppose that Wave C will be completed at 1.27 extention of wave A, bcz when wave C will reach this area it will become equal to wave A (approx 32% each) that's important fact in Elliot's waves predictions. After completition of Zig zag, the most strong and impulse 3 wave in this cycle will start to draw itself in the chart. 1 wave was 1 year long in time and gave 118 % of profit, so 3 wave should be longer and more profitable :) price range of the wave C ending btwn 19-20$
2) Behind 1 and 2 Elliot's cycle waves, potential Gartley 222 pattern is appearing with right proportions between its legs and in the price area btwn 19-20$ the leg CD will reach extension 1.618 from BC leg and pattern will be completed, so I suppose that the chart will reverse to bullish direction in those area. It is second type of analyse which shown to the same reversal price area.
3) 1 wave did breakout of bearish trend line and now chart want to come back to this trend line to touch it, before will start to grow again in 3 wave. This trend line pass through the same price area 19-20$, so I pretty sure that chart will test it exactly there
Disca Chart looks really Harmonic with Fibo proportions, I like it
Currently I'm in short position in this stock, I opened my trade almost on the top of wave B (BC leg) 28.61$ SL 29.40$ TP 19$ and chart goes exactly as I supposed, so when the chart will reach prospective price area I will open long position then.
I did same related post in Rissian on 14 march u can check it
I hope you will understand my English :)
Wish good profits to everybody :)
Hi guys
In the chart above I draw what I found at DISCA chart, really strong bullish Fibo Cluster, where 3 types of analyses meet each other:
1) Elliott cycles - from 31 December 2013 to 16 November 2017 there was a bearish downtrend, long correction of the previous cycle, but it was completed on 16 November 2017 and next bullish cycle had started. I calculated 1 wave, it's completed already and currently 2 wave is forming itself as a simple Zigzag. Waves A and B have been completed already, wave C is appearing now. I did fibo extention of wave A and suppose that Wave C will be completed at 1.27 extention of wave A, bcz when wave C will reach this area it will become equal to wave A (approx 32% each) that's important fact in Elliot's waves predictions. After completition of Zig zag, the most strong and impulse 3 wave in this cycle will start to draw itself in the chart. 1 wave was 1 year long in time and gave 118 % of profit, so 3 wave should be longer and more profitable :) price range of the wave C ending btwn 19-20$
2) Behind 1 and 2 Elliot's cycle waves, potential Gartley 222 pattern is appearing with right proportions between its legs and in the price area btwn 19-20$ the leg CD will reach extension 1.618 from BC leg and pattern will be completed, so I suppose that the chart will reverse to bullish direction in those area. It is second type of analyse which shown to the same reversal price area.
3) 1 wave did breakout of bearish trend line and now chart want to come back to this trend line to touch it, before will start to grow again in 3 wave. This trend line pass through the same price area 19-20$, so I pretty sure that chart will test it exactly there
Disca Chart looks really Harmonic with Fibo proportions, I like it
Currently I'm in short position in this stock, I opened my trade almost on the top of wave B (BC leg) 28.61$ SL 29.40$ TP 19$ and chart goes exactly as I supposed, so when the chart will reach prospective price area I will open long position then.
I did same related post in Rissian on 14 march u can check it
I hope you will understand my English :)
Wish good profits to everybody :)
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