Seems the megaphone is still present and still vicious. Looks we might also be retesting the PRZ for D leg of the Harmonic to close in that area, if we break above our short-term harmonic will be invalidated and a larger timeframe harmonic will be validated; if this occurs the larger Harmonic will be included in tomorrows daily analysis since it is a higher timeframe harmonic . We are making NSH's and HL's but I think we still need one more strong NSH through the white upper boundary and red LH to be completely bullish since that was our NSL that broke through our bullish expectation. If the harmonic doesn't invalidate I will be aiming to take profit at the 61.8% area. If it breaks and close below 76.4% there is a high probability we will make a NSL.
NSH = New Structure High
HL = Higher Low
NSL = New Structure Low
LH = Lower High
R = Range
Leave a like if you'd like to follow this analysis as I will answer questions and update in the comments if anything significant happens before 6/27.
NSH = New Structure High
HL = Higher Low
NSL = New Structure Low
LH = Lower High
R = Range
Leave a like if you'd like to follow this analysis as I will answer questions and update in the comments if anything significant happens before 6/27.
Trade active:
Looks like we are still range-bound, still making series of NSL and LH's.
Trade active:
Have touched the bottom of the range, this point is crucial because if bears can break below the range we are in for some bearish momentum.
Trade active:
61.8% is in play as it has broken the bottom of the range, bears are back in control.
