is nearing the PRZ of 3 harmonic patterns
presenting us with an opportunity to trade in the direction of the trend. The base of the PRZ coincides precisely with last week's missed pivot
in addition to a fib cluster from a series of structure lows to structure highs. The 500 bar SMA
lines may provide added support around the reversal zone. To add to bullish
bias, the new weekly pivot
will be printed near the .618CD retracement and may help to pull price up toward target. Entry is placed at the base of the PRZ with target at .618CD and SL below structure lows. This trade yields a risk to reward ratio of 2.
Confluence in the PRZ:
If this long position is successful, the next level I will be focusing on is .74: