Nice set up. market in the down trend. set up to fire at a nice place. good harmonics.
If the market gets filled, i think the price might reverse right there or about there to maintain the down trend. but if the price at that point closes above it, then trader should be cautious about it.
look for a better entry point and reason to trade this pattern.
better comments to help is very welcome.
thanks
Comments
chrystael
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sorry. typographical error. ""false breakout as price did not close above"...shoulda been as price did not close below it.
so far, the pattern is still valid as the C leg is not below 88.6% retracement.
so far, the pattern is still valid as the C leg is not below 88.6% retracement.