Does GC_F Have Intraday C Point In?

5-12-2013 GC MTS

Daily chart shows an attempt to retrace a small Bullish Crab, ideal minimum retracement target is 1526.2

  • Interesting that the intraday chart has an emerging Bearish Gartley pattern’s completion target 1532.6, this will help the daily pattern have an ideal retracement
  • An intraday small Bullish Bat (brown) is in retracement mode, a 100% retracement  helps retest the B point of the Gartley
  • A hold below 1462.8 implies the BC leg is still forming and has a downside target of 1360, with a scaling point of 1387 (scaling points are also potential bounce points)
  • So a breakdown of 1417.2 has retest of daily Bullish Crab scenario with the help of intraday Bullish Crab
  • Significant levels to break and hold are either 1417.2 or 1486.5 on an intraday perspective
  • Significant levels to break and hold are either 1536.2 or 1336.8 on a daily perspective