The measurements for a valid pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
Price is currently forming the C leg which will complete in between 1.618 and 2.24, it will more than likely complete at 1.618 level.
If it drops lower it will complete a pattern (chart is shown below), providing a double trading opportunity.
This is an early prediction but I love to pick out market turning points :)
Wait until price completes both points C and D before going short.
I've got more analysis on the way, stay tuned!
Don't worry that's going to be covered in the harmonic mastery :)