As of now the market is still in a strong downward movement (downtrend). I could go and spot some re entry on the LTF to short this market upto a potential Bullish Cypher Pattern formation. With that, Price is also inside a descending narrowing wedge. A BO to the upside is a good sign that the down trending market is over. And we could go and spot some long opportunities. But as of now, ill just incorporate harmonics on the LTF either long or short setup, will take it as possible we would like to manage our risk.
Comment:
On the weekly TF, we are hitting a potential lower TL if the pattern will be completed.
Trade closed: target reached
Comment:
Take note that we have a big bearish Butterfly pattern right here.
