two harmonics converge at 3680 to give us bearish harmonic. it is the fractal nature that interests me a lit more.
Comment
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what are the odds this may be the one?! rarely do we see harmonics succeed at such large tf. If we don't look back till 3680, this harmonic will complete before bearish plunge of length = XA.
I had the same trajectory plotted on SPX. Bought in UPRO expecting an upward trend at 3X leveraged. Went back to UPRO and did a wave plot, and it tells me we're on a C leg and downward headed at least near term. I had to keep zooming out on the timeline until I found a pattern I could plot. Put in stop losses to avoid further losses and stopped out on UPRO today as we fell further on SPX.
ProfitHarvest
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That is interesting.
3680 is also the top of the 5Y peak channel, which should also have strong rejection power if it can get there...
frodo75
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@ProfitHarvest, i wish we touched 3680 soon. however, i believe go lower than last low before new ATH.
ProfitHarvest
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@frodo75, Yea that is supported by the data I'm seeing across a wide range of TA.