MEG has hit the significant 61.8% retracement target (C-D leg) at 3.71. This is a potential profit taking area for a short term position if trading the Bullish Gartley harmonic pattern.
*Immediate resistance around 3.76
See previous analysis on this Bullish Gartley harmonic pattern:
https://psetrends.blogspot.com/2017/04/meg-update-on-harmonic-pattern-and.html
Trading Plan
- Take profit or scale down position at 61.8% retracement (around 3.71).
- Profit run the rest of the position using trailing-stop.
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