The above graph take as an impulsive wave XA, and based on August month pin close, and left sructure of price, raise conditions for a potential bullish harmonic pattern as we show. This will allow the completion of right shoulder of Week H&S (around point C - 1,209), and from there to 1,05s, where it will begin a strong up move, that can mean the reverseal of long-term downtrend, or not. Notice that all the development of the pattern is confined to the long term down channel. So for now we will be in TR 1,13 - 1,1850. Break on the upside can lead us to 1,20. If we see a close below 1,13 on week basis, before 1,20, i will consider this view invalidated.
There are several consolidations patterns we can consider inside this BIG ONE, both bullish and bearish. I will share some of them if this makes sense to you.
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There are several consolidations patterns we can consider inside this BIG ONE, both bullish and bearish. I will share some of them if this makes sense to you.
Comments are welcome
If you agree put a like.