Shrunken patterns // minor 2618 // IF=THEN ®

29 בנוב׳ 2015

AUDUSD

Eventual Shark pattern failed to forge point B at 61.8% retracement, in fact closes above the 50% retracement, but forges point C above the 127% extension from AB leg, "validating" point C. This patern completes between 161% and 224% extension from B to C, daily support D1 @0.70688 It's an affordable price i suppose.

At the same time, an eventual Cypher that fails to forge point C at 127% extension from XA leg - strong resistanceD1 @0.72830. This pattern completes around 0.71200, the 78.6% retracement from XC leg.

Eventual 2618 with one AB=CD pattern on sight inside the descendant channel as a primary and immediate focus. The target after for a 2618 setup can reach the 261% extension, IF that will be the case, it will be synced with point D for Shark mentioned above.

Safe trades;
open.spotify.com/track/5ghIJDpPoe3CfHMGu71E6T