ADSK looks to have formed a bullish harmonic pattern, a crooked M.
I would guess this is a Cypher or a Shark as peak 2 is above peak1. The cypher pulls to .786 of the AC leg and is labeled XABCD with D being the PRX, point of reversal, or the completion zone. The theory being that once price makes it to D, a bullish trend should resume.
The shark is labeled 0XABC and C is the reversal zone. Peak 1 is lower than peak 2, but C should be found in a bull shark at the .886 of OX, the first leg. This differs from the Cypher, as D, point of completion, is found at the .786 of XC and not XA. So in a cypher, you are looking for the .78 point of the entire structure and not just the first leg up in a bullish case. There are also bearish harmonic patterns and animals (o:
Several bottoms noted at current support level which can mean the bulls made a stand here.
No recommendation
I would guess this is a Cypher or a Shark as peak 2 is above peak1. The cypher pulls to .786 of the AC leg and is labeled XABCD with D being the PRX, point of reversal, or the completion zone. The theory being that once price makes it to D, a bullish trend should resume.
The shark is labeled 0XABC and C is the reversal zone. Peak 1 is lower than peak 2, but C should be found in a bull shark at the .886 of OX, the first leg. This differs from the Cypher, as D, point of completion, is found at the .786 of XC and not XA. So in a cypher, you are looking for the .78 point of the entire structure and not just the first leg up in a bullish case. There are also bearish harmonic patterns and animals (o:
Several bottoms noted at current support level which can mean the bulls made a stand here.
No recommendation
Commentaire:
I apologize but I do have issues differentiating the cypher and the shark until the point of completion is reached. Many of the rules seem similar. Tips appreciated (o:
Commentaire:
This may be going to the .886. 9/10
Commentaire:
I should have erased long entry level as well as targets as those were from a prior pattern.
Commentaire:
Plus long entry level should have been 288.50 I really screwed that one up and I guess that is what happens if we do not slow down and smell the roses! LOL