nifty with basics of harmonic pattern
Before going forward our previous nifty analysis
we saw breakdown and result ...
Now comes question "Whats next?"
To answer this we will use Harmonic pattern as well as learn it..
some of you may have seen colourfully drawn Harmonic patterns named as BAT,GARTLEY,BUTTERFLY but wondering as to what they are --- here is an easy set of illustrations
1.
2.
XA = 804
AB = 10490-10094= 396(49.4% OF XA)
since AB has retraced almost 50% of XA we are labeling it as BAT pattern.
BC can retrace 38.2 to 88.6% of AB.
here it has retraced 81%.
3.
now comes final conclusion-
4.
pictorial
there are 2 other possibilities
A)
B)
this possibility has target of harmonic pattern ...
CONCLUSION-
1ST SUPPORT 10073, BELOW THAT WE CAN EXPECT 9900..
*this post is purely for education purpose..
Now comes question "Whats next?"
To answer this we will use Harmonic pattern as well as learn it..
some of you may have seen colourfully drawn Harmonic patterns named as BAT,GARTLEY,BUTTERFLY but wondering as to what they are --- here is an easy set of illustrations
1.
AB = 10490-10094= 396(49.4% OF XA)
since AB has retraced almost 50% of XA we are labeling it as BAT pattern.
BC can retrace 38.2 to 88.6% of AB.
here it has retraced 81%.
3.
now comes final conclusion-
pictorial
there are 2 other possibilities
A)
CONCLUSION-
1ST SUPPORT 10073, BELOW THAT WE CAN EXPECT 9900..
*this post is purely for education purpose..
Komen:
1st support - can bounce from here
Komen:
Komen:
KA