There is a potential bearish shark harmonic pattern taking shape.
The 1st and 2nd targets are provided at the .382 and .618 fib retracement of AD leg.
Stops are shown in red dashed lines.
If this pattern completes and price reverses at Point D, this would further confirm my prediction of a rejection at the major resistance trend line (in red).
Good luck with your trades
The 1st and 2nd targets are provided at the .382 and .618 fib retracement of AD leg.
Stops are shown in red dashed lines.
If this pattern completes and price reverses at Point D, this would further confirm my prediction of a rejection at the major resistance trend line (in red).
Good luck with your trades
Trade closed: stop reached
Pattern invalidated, price hit both stop loss areas. Major trend line has also been breached, I will discuss in other ideas
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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.
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.