I am expecting the same. Are you sure it will give nice rally and cross 9150 soon by tomorrow.
Bankster
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the only thing I'm sure in trading is that I will loose money :)
UsmanButt
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Hi
I am not experienced .
But mr bankster look good in his work
BaliShag
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Agree. But I have to question your XABCD pattern since it isn't an official one. What's the point?
Bankster
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I use it for a better view of fibo retracements, you can use fibo instead, everything that works is ok. The potential D point is now on -30% from ATH, 1.27 fibo from B to C. The price action is also supportive which is more important for me. We closed Friday at daily high with HH and HL after hammer pinbar, so according to my plan, I have to enter a long trade
BaliShag
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Ah okay. Thanks for your reply. On a harmonic sidenote.. You mention the 1.272 extension of the BC leg. The retracement of that leg formed a bullish Gartley on the way down that failed mid january. I do very often see failed Gartleys turn on the 1.272 extension of the XA leg instead. Haven't done the statistics my self, but I know of harmonic traders that even gave this "pattern" a name: Garfly. Not that important, but for me it adds a bit of confluence.
I haven't done my weekly analysis yet, but I can add a bat pattern, the 5 wave structure in the CD leg and a median line to your area for confluence.
Best of luck!
Bankster
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835x is indeed another confluence zone, but there is no right or wrong, price could reverse right now and go up for months. We don't know that the right side of the chart will be look like, that's why protecting your chips is sooo important ;) I will reenter if price reach that level and PA justifies a long entry. But for now, I have to trade what I see.