On Monthly TF, two harmonic patterns have been drawn. Gartley (94% complying) and Butterfly (88% complying).
In this bull run prices are moving way to fast. And due to market sentiments Bulls are in control. In normal bull run Gartley pattern will be complied before price drops but chances are that price will make new All Time High and follow Butterfly.
RSI is around 80 without any sign of reversal; however, minor retracements are normal but overall price will stay in up trend.
LONG Buy Trade Call
Buy-1 : 50.78
Buy-2 : 61.00
SL: 39.00
TP1: 57
TP2: 78
In this bull run prices are moving way to fast. And due to market sentiments Bulls are in control. In normal bull run Gartley pattern will be complied before price drops but chances are that price will make new All Time High and follow Butterfly.
RSI is around 80 without any sign of reversal; however, minor retracements are normal but overall price will stay in up trend.
LONG Buy Trade Call
Buy-1 : 50.78
Buy-2 : 61.00
SL: 39.00
TP1: 57
TP2: 78
Trade active
TP1 following Gartley Pattern of 57 has been achieved. After booking some profit holding for TP-2 (78).New Buy entry can also be taken at current Market price of 42.83 (around). TP should be around 65 and then 78.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.