CHZUSDT: Bullish Gartley Pattern on 2H Chart
Hello traders, I have spotted a bullish Gartley pattern on the 2H chart of CHZUSDT. This is a harmonic pattern that indicates a potential reversal of the downtrend.
Pattern Details
The Gartley pattern consists of five points: X, A, B, C, and D. The points must conform to specific Fibonacci ratios.
The pattern is valid if the following conditions are met:
Point B is a 61.8% retracement of XA
Point C is a 38.2% retracement of AB
Point D is a 78.6% retracement of XC
Point D is also a 127.2% extension of AB
As you can see, CHZUSDT meets all these criteria, forming a complete Gartley pattern.
Conclusion
The Gartley pattern is a reliable harmonic pattern that can help us identify reversal opportunities in the market. CHZUSDT has formed a bullish Gartley pattern on the 2H chart, suggesting a possible end of the downtrend. We can look for buy signals in the PRZ and aim for the Fibonacci retracement levels of AD as our profit targets.
I hope you found this idea useful. Please like, comment, and follow for more updates. Happy trading!
Pattern Details
The Gartley pattern consists of five points: X, A, B, C, and D. The points must conform to specific Fibonacci ratios.
The pattern is valid if the following conditions are met:
Point B is a 61.8% retracement of XA
Point C is a 38.2% retracement of AB
Point D is a 78.6% retracement of XC
Point D is also a 127.2% extension of AB
As you can see, CHZUSDT meets all these criteria, forming a complete Gartley pattern.
Conclusion
The Gartley pattern is a reliable harmonic pattern that can help us identify reversal opportunities in the market. CHZUSDT has formed a bullish Gartley pattern on the 2H chart, suggesting a possible end of the downtrend. We can look for buy signals in the PRZ and aim for the Fibonacci retracement levels of AD as our profit targets.
I hope you found this idea useful. Please like, comment, and follow for more updates. Happy trading!