We have a bearish Flag formation, please wait for a clear breakout to the downside, which means always wait for a close of the Candle! do not execute in a Candle session alsways wait for its close! We should then see the market falling down to the end of the Blue error.
Plase your stopls like on the left side of the Chart, just in this case above the...
We have a clear 5-0 Pattern. Market found its necessary resistance @ the 0.618 fib ratio! If market comes under the 0.618 fib ratio and CLOSES under it, get out !
We should now (if the Pattern holds) see a nice new upmove at least to previous highs!
This pattern has nothing to do with the Elliot-Wave theory, but it also boils down to a 5 Wave structure!
We have two distinct Harmonic Pattern in combination. A Cypher and a Bat Pattern, giving us a harmonic PRZ where the market is likely to turn.
Please wait for a confirmation that the market is going to respect this area. Just because there is a harmonic Pattern it doesn't mean that the market will respect it for 100%! But we hopefully will see at least a small retracement!