Bullish Gartley Harmonic Pattern - OMG/BTC (Bittrex)
A distinct bullish Gartley pattern is nearing completion. Note the .618XA @ midpoint B, and the convergence of AB=CD, the 1.272BC Projection, and the .786XA in the PRZ. A conservative entry here yields a healthy 2.8:1 reward:risk at the first profit target, and a 77% gain at target two. To enter this trade, price must confirm a reversal in the PRZ, at completion of the pattern.
This pattern should complete within 24-48 hours.
This pattern should complete within 24-48 hours.
Note
After running into resistance at point C, the .786AB, OMG began correcting towards its short-term trend line. A break of support at 140k sats should begin a sell-off towards completion point D.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.