Market respected support/resistance levels and made nice harmonic move ABCD. Now expecting to do another harmonic move with same swing length as ABCD. Retracement fits nicely with support level and Fib levels 61.8 and 78.6 makes a zone for Buy.
Waiting for price to drop to support zone (1D chart). There is possible harmonic move AB=CD and 161.8 % Fib. extension in that support zone. If double bottom is formed in that zone, it will be signal for buy with target at resistance zone, with stops below double bottom.
When stars align you get something like this. In small zone (yellow rectangle) ends ABCD harmonic pattern, 161.8% Fibonacci extension level, at 2009.01 there was highest high which now works as support level, also RSI is showing divergence.
However this is counter trend trade and it might seem scary, that is why there need to be reversal signal, like double bottom...
