I love the weekend. Markets aren't moving. It gives a technical trader quality time to analyze as many pairs as they desire with little to no rush, while examining all possibilities of price movement.
Today, we have a bullish gartley and crab on the XAG/USD 1h chart. With both pairs we are watching for the price to drop in the next few days.
I would say the gartley pattern is more likely since it is inside the channel.
However, if price breaks down below of the channel, look for the crab pattern.
The measurements for a valid gartley pattern are detailed below.
B: 0.618 ---> (0.618)
C: 0.382 - 0.886 ---> (0.638)
D: 1.272 - 1.618 ---> (1.418)
Final X to D: 0.786 ---> (0.786)
The measurements for a valid crab pattern are detailed below.
B: 0.382 - 0.618 ---> (0.618
C: 0.382 - 0.886 ---> (0.638)
D: 2.24 - 3.618 ---> (3.534)
Final X to D: 1.618 ---> (1.618)
Please fee free to critique this analysis or give your own analysis in the comments below.
Instagram: _c_schultheis
Today, we have a bullish gartley and crab on the XAG/USD 1h chart. With both pairs we are watching for the price to drop in the next few days.
I would say the gartley pattern is more likely since it is inside the channel.
However, if price breaks down below of the channel, look for the crab pattern.
The measurements for a valid gartley pattern are detailed below.
B: 0.618 ---> (0.618)
C: 0.382 - 0.886 ---> (0.638)
D: 1.272 - 1.618 ---> (1.418)
Final X to D: 0.786 ---> (0.786)
The measurements for a valid crab pattern are detailed below.
B: 0.382 - 0.618 ---> (0.618
C: 0.382 - 0.886 ---> (0.638)
D: 2.24 - 3.618 ---> (3.534)
Final X to D: 1.618 ---> (1.618)
Please fee free to critique this analysis or give your own analysis in the comments below.
Instagram: _c_schultheis