On 19th of Dec 2019 I posted this article where the price action of Ark with bitcoin was forming a bullish Shark pattern and soon it was expected to enter in potential reversal zone to take bullish move from this PRZ area. Then on Jan 7 the price action entered in potential reversal zone and completed the Shark pattern and took powerful bullish divergence and produced more than 105% big bullish wave.
Another Bullish Harmonic Pattern Is Formed:
Now on short term 4 hour chart the price action of Ark has retraced between 0.618 to 0.786 Fibonacci and then completed another harmonic Gartley pattern.
The complete Movement Of The Pricline Is As Follow As Per Gartley Pattern:
After initial leg (X to A) the A to B leg is retraced between 0.618 to 0.786 Fibonacci and then B to C leg is projected between 0.382 to 0.886 of A to B leg's Fibonacci projection and final (C to D) leg is retraced between 0.618 to 0.786 Fibonacci as perfectly required for Gartley pattern and now the price action is moving in potential reversal zone of this Gartley pattern, now we can expect bullish divergence at any time which will lead the priceline between 0.382 to 0.786 Fibonacci projection of A to D leg.
An Alligator’s Mouth Has Been Completely Opened:
The simple moving averages with time period of 25, 50 , 100 and 200 has completely formed an opened alligator’s mouth and turned strong bullish and if we closely watch then we have strong support of 50 simple moving average just beneath the potential reversal zone of Gartley pattern which is very strong bullish signal because here we have 2 supports now one is the support of potential reversal zone at : 0.00002353 sats and other is 50 SMA now there are strong chances of bullish reversal from these supports.
The Buying And Sell Targets:
The buying and sell targets according to harmonic gartley pattern should be:
Buy between: 0.00002637 to 0.00002353 sats
Sell between: 0.00002863 to 0.00003401 sats
Stop Loss:
The potential reversal zone area which is up to 0.00002353 sats can be used as stop loss in case of complete candle sticks closes below this level.
I will be keep posting more potential trading ideas for educational purpose on different assets as soon as will receive any trading signals.