I am getting a feeling that there could be a 5-0 correctional harmonic formation in its maturity phase, currently. It can also be viewed as an inverse head and shoulders pattern. The highlighted harmonic pattern is the 5-0 pattern with the X being the 1. TV doesn't have a tool for 5-0 patterns, so the Cypher tool is used which lacks one leg. The highlighted projection of price is regarded as a rough estimation of this pattern's completion. The pattern is usually seen during a post correctional phase, where there was a rather hard sell-off (a strong upthrust in a bearish version), which was followed by a V type recovery. When this V type recovery is being corrected as much as 38.20%-50.00%, that's where you anticipate entering into short risk exposure.