Saturday, May 12, 2018 10:27:24 AM
LABU technically speaking, upon further review of the Harmonic patterns, it looks like a Gartley should have had a .618 retracement of the XA leg.
I was a bit confused when LABU shot back up with only a .318 dip and decided to look into things a bit more. Turns out that a .50 retracement of XA is the set up for a BAT pattern, which has a .886 retrace of the CD leg and not a .786 like the Gartley
So we may actually be looking at the BAT instead.
Longer term it looks like a huge Megaphone/Ascending broadening wedge pattern in play, which has a 50/50 chance of breaking up or down.
I was a bit confused when LABU shot back up with only a .318 dip and decided to look into things a bit more. Turns out that a .50 retracement of XA is the set up for a BAT pattern, which has a .886 retrace of the CD leg and not a .786 like the Gartley
So we may actually be looking at the BAT instead.
Longer term it looks like a huge Megaphone/Ascending broadening wedge pattern in play, which has a 50/50 chance of breaking up or down.
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