Back-to-back clean harmonics are rare, so this is a long shot. If the next leg confirms tho, it's on.
Bull Bat confirmed, but seems to have stopped well short of it's first target, the last bottom @ 358.5. Where it stopped is interesting, 38% retrace! If it continues up, the next bull target after 358.5 is 369.5.
A lot of harmonics have 38% retraces, but only one matched up, Cypher. It matched up well, ending just under the bear TL from previous tops.
With options, max pain drops swiftly to 350 on 4/14. So either the pattern, or BC leg, should complete before 4/14. The 1st bear target after completion is the previous low @ 340.
Bull Bat confirmed, but seems to have stopped well short of it's first target, the last bottom @ 358.5. Where it stopped is interesting, 38% retrace! If it continues up, the next bull target after 358.5 is 369.5.
A lot of harmonics have 38% retraces, but only one matched up, Cypher. It matched up well, ending just under the bear TL from previous tops.
With options, max pain drops swiftly to 350 on 4/14. So either the pattern, or BC leg, should complete before 4/14. The 1st bear target after completion is the previous low @ 340.
Trade active:
Bear Cypher BC can be between 1.272-1.414. So as long as it goes no lower than 340, this confirms the 2nd leg. Lots of oscillators pointing up. Only issue is a bad CPI number tomorrow, but it's expected.
Comment:
It also made a "Long Island" chart pattern, with 2 gap down days. It has poor success rate, but is a bullish reversal pattern.