We create a Harmonic Pattern (so far it looks like Cypher or Shark, they have a point D higher than X ... but it can also be Nen Star, he has D a little lower than X..but we'll find out when we see the reaction)
1) We are working on the last leg D (descending)
1a) This pattern is bullish, because after D comes impulsive growth
2) According to the fib shot setup that I gave last week, we met 1 tgt zone 36 and now we are heading for 2 tgt. zone 32800
3) I would expect a strong reflection in place:
3a) 33,300-400 we have a strong price action zone from the history of the last month. After the rebound we did 2x 16-18% gain.
3b) Another such place is 32,300-400, where after visiting this level we also made 2x nice reflection of 25% and 27% gain.
3c) Other strong supports are marked in graphs 31,000 and 29,000 (I don't see a reason to go there yet, but we'll see what tomorrow's graph brings!)
When we bounce the bottom, I expect the first retest of POC - 36,000, where I expect the first major reject, or impulsive puncture and testing as a support level. (we'll wait for that, I'll update you)
1) We are working on the last leg D (descending)
1a) This pattern is bullish, because after D comes impulsive growth
2) According to the fib shot setup that I gave last week, we met 1 tgt zone 36 and now we are heading for 2 tgt. zone 32800
3) I would expect a strong reflection in place:
3a) 33,300-400 we have a strong price action zone from the history of the last month. After the rebound we did 2x 16-18% gain.
3b) Another such place is 32,300-400, where after visiting this level we also made 2x nice reflection of 25% and 27% gain.
3c) Other strong supports are marked in graphs 31,000 and 29,000 (I don't see a reason to go there yet, but we'll see what tomorrow's graph brings!)
When we bounce the bottom, I expect the first retest of POC - 36,000, where I expect the first major reject, or impulsive puncture and testing as a support level. (we'll wait for that, I'll update you)
So far so good. For trade always wait for multiple confirms like break and retest last resistance like a support. Trade well my friends.