USDMXN (Harmonic Pattern's inside consolidation) -1h Chart

31 авг. 2018 г.

Bat Pattern confirmations:
- A-B must touch 0.5, but cannot touch 0.618
- B-C must touch 0.618, but cannot exceed A (FIbo A-B) or just keep an eye on that 0.236
- D completion at 0.886 (Fibo X-A)
- Take profits at 0.382 and 0.618 (Fibo A-D)
- Third TP would be long term back to where it all started

Deep Crab Pattern:
- A-B leg can retrace anywhere between 0.382 up to 0.618
- B-C leg can retrace 0.382-0.886 of AB leg
- C-D is an extension of up to 1.618 of XA leg
- Take profits at 0.382 and 0.618 (Fibonacci D-C)
- Third TP would be long term back to where it all started

Cypher Pattern:
- A to B must touch 0.382 but cannot exceed 0.618
- B to C must touch 1.272 but cannot close below 1.414 (Trend-Based Fib Extension)
- C to D must touch 0.786 of X to C
- First TP at 0.618 of D to C (Fibonacci)
- Second TP at 0.382 of D to C (Fibonacci)
- Third TP would be back to where it all started

Gartley Pattern
- A-B must touch 0.618 but cannot touch 0.786
- B-C must touch 0.236 but cannot exceed A (on this case its at 0.382 unified gartley )
- D completion at 1.272 (Trend Extension) or 0.786 from normal measurement
- First TP at 0.618 (Fibonacci from D-C)
- Second TP at 0.382 (Fibonacci from D-C)
- Third TP would be back to where it all started

Total Pattern's:
2 Cypher
2 Bat
1 Unified Gartley
1 Deep Crab

We can see several patterns been completed inside this consolidation respecting each fibonacci retracement, at this point its forming a Bat Pattern going bearish for its D completion at 0.786-0.886 area or it could turn into an Alternate Bat Pattern, which it would retrace towards 1.13 (retest at trend), after Bat confirmation I expect bullish impulse towwards -0.27
Good Trading. -1h Chart