We have some very strong areas here where the price is automatically attracted to (Confluence areas). We have a very strong uptrend as noted by the rally lines (RL) and what I am looking for is to have those lines tested and broken. As they are broken I am expecting the price to be pulled to the next RL. (Bias is a Bearish Expectation)
The strong confluence...
*Disclaimer: Trading is risky. Do not trade money that you can't afford to lose. Past performance does not guarantee future gains. This is not a solicitation to invest in any market. The information provided here is for educational purposes only.
Harmonic Shark Pattern - Wanting to see a clear divergence between the Price and the indicators AS well as a clear CTB (counter trend line break). All things must come together before I enter the trade (Confluence).
You can see the projected D is at or near the upward trend line.
My Trading Plan:
Looking for Price to make a decision at 145.599. This is a major PIVOT area for the price all the way back to 2008.
IF the price breaks above I will look to buy to the next HT and adjust if the price breaks above or pushes down.
IF the price breaks below, I will look to sell to the next HT and adjust if the price...
Looking for Price to reverse @1.14 prices area and then head north. R1 -> 1.14125 R2 -> 1.14161. If price does break above, test and continue northward from R2 -> 1.14161, then I am looking for price to hit the 1.14328 (2h Supply Level)