MEG (Megaworld Corporation)

[yeahbah]

It could form another bearish bat (a bigger one) where D is somewhere near 1.6x. I'm not buying still

[harley]

might be a potential bearish gartley.
if 1.28-1.30 doesn't hold, then the potential pattern at 38.2 for C point is broken. It may extend up to 88.6 at 1.08 for the potential gartley to hold.
current outlook is on the bulls side (due to channel) and i'd like to take advantage of this retracement.

[yeahbah]

^ pards point C should be the higher low in relation to point A. Point C should be at 1.2. It's a potential bat because B is at 50%. If the price goes below 1.2 then bounce anywhere above A, then we can consider the potential gartley.

Anywho, MEG is looking yummy.

Inverted H&S + Potential Bat

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[harley]

got it. thanks boss

[yeahbah]

pansinin mo rin cycle indicator natin, 9 days to go

[WallStreet]

point C should be the higher low in relation to point A. Point C should be at 1.2. It's a potential bat because B is at 50%. If the price goes below 1.2 then bounce anywhere above A, then we can consider the potential gartley.

Yeahbah, clarification pls. did i understand your post correctly when you said this cannot be a gartley ( assign pt B at 1.46 ), unless pt. C goes lower than 1.2? so if it bounces now, I cannot assign pt. C as 1.28 ( even if it is still a valid fibo no. of .382 AB )?

Thanks boss.

[yeahbah]

Point C is the retracement of AB leg. This is the higher low, the level where the price bounced then continued on with the current trend from point A. The up trend is confirmed through the succession of higher lows and higher highs. MEG is already trending up from A. So if you are to consider the potential gartley pattern, MEG should form another higher low -- the retracement of A (1.04) to B (1.46), must be lower or equal to 1.2

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[yeahbah]

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[WallStreet]

thanks a lot Yeahbah. really aprreciate your patience and effort in explaining this to us all. Hopefully we can contribute more in the future.

[yeahbah]

no problema