Harmonic Trading with The Phoenix Message Board

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Strategies & Market Trends : Harmonic Trading with The Phoenix

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To: the-phoenix who started this subject	11/25/2002 1:56:17 PM
From: the-phoenix	Read Replies (2) of 941

The Dollar Has Been Making Some Nice Harmonic Patterns this year: ttrader.com In early September a Bullish Gartley completed and set up a nice bounce over the next two weeks that exceeded the pattern's previous highs. This runup then became the first leg of a larger Bullish Butterfly that completed November 11th at the start of the current rally in the dollar. This coincided with the November 12th completion of the Bullish Gartley in the Ten Year Note that Augieboo pointed out to us: share.esignal.com How long will this rally last? One clue possibly can be found in the gold charts. $HUI appears to be building the last leg down of a Bullish Butterfly that would complete in the area of the March lows around Christmas/New Year's: share.esignal.com This is an excellent pattern that would complete at an important support level, strengthening the probability of a reversal there. XAU has a similar pattern, although not as precise. It would complete near 50 on that index, which would be near support from last November.

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