Price broke out of the channel and formed a harmonic Bat Pattern which signaled a reversal back towards the trendline.
The nose of all harmonics represent an area of strong support or resistance, and in this case it will be serving as support.
Also in this area is the trend line which price just broke through, about to retest.
There are fundamental factors at play this week that may have an effect on price.
The nose of all harmonics represent an area of strong support or resistance, and in this case it will be serving as support.
Also in this area is the trend line which price just broke through, about to retest.
There are fundamental factors at play this week that may have an effect on price.
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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.