is drifting lower and it seems that very soon we might have equal legs down from the top. The target is near - approx 50pips away. Equal legs in itself are sometimes enough to get at least a small bounce but what makes this case interesting is that if we go a bit lower, then we might have a possibility, that the market is forming a Bearish 5.0 Harmonic Pattern
. The possible Harmonic
setup is far fetched right now, but still worth tracking.
I wouldn't go long if the necessary target to the downside is reached, but I would short if market reaches the Bearish 5.0
Perhaps traders who use Harmonic Patterns
on daily bases, could share their views here. Thanks!