Akil_Stokes

BTCUSD - Long-Term Potential Gartley Pattern but DON'T DO THIS!

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BITFINEX:BTCUSD   ビットコイン/米ドル
I'm not a Crypto trader at all, but if you follow my work then you know that I like to stay sharp by performing technical analysis on random charts. (Which is a very good exercise that I recommend by the way).

Here on bitcoin is a potential Bearish gartley pattern. Typically I don't pay any attention to these pattern until price approaches the "B" leg, but I figured I'd share a longer-term idea today.

Now before you ask NO! NO! NO! You should not have the mindset of "well Akil since we know it's a gartley, shouldn't I just trade the C leg up in advance of the D completion?" NO! A POTENTIAL Gartley is just that, POTENTIAL. There is absolutely nothing that says the pattern will actually complete, so unless you have another reason to buy which happens to line up with the pattern projection, then you're doing nothing more than throwing money at the wall and hoping it sticks.

Akil

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