Price action has pretty much done EXACTLY what I predicted it would do (see my previous post in Related Ideas).
Though prices have not reached the original I had posted previously (green), I did already take a SHORT position by way of a ".786 Trade" technique. Of course, prices can still turn back up to fill that bat but now I am hoping it doesn't since I am already SHORT!
After further examining the price action, there was also another that was found on the 5M TF that I didn't post before as I rarely venture down to the 5M TF. But nonetheless, it is a valid bat (purple one). Prices did hit that bat though.
Below chart is a little bit more on the ".786 Trade" and also what I am expecting out of this pair.
If anyone wants to know more about the ".786 Trade" technique, let me know.
Performance Summary & Public Trade Log: http://bit.ly/29AeqnC
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Personally, I don't like to trade purely on S/R as the way Vic taught it. Pure support/resistance trades don't have anywhere as good a winning percentage as harmonics. I'm not wanting to start any kind of argument as to the effectiveness of support/resistance lines and S/R trading (as another highly regarded trader here who completely dismisses it does) but S/R lines are similar to trend lines in that it's exact location is left up to too much individual interpretation to be that effective.