Correction move characterized by volatility. impulse wave will be high velocity
NOW ON SELLING PRESSURE BASED ON WEEKLY FORMATION
THE DXY LOOK LIKE CONTINUATION PATTERN, ALSO REACTING TO 382 FIBO LEVEL.
AT POINT OF INTERCEPTION THEY MAKE DECISION EITHER CONTINUATION OR REVERSAL
WEEKLY SUPPORT TURN TO RESISTANT @ 38%
DOUBLE ZIGZAG COMPLEX CORRECTION PATTERN CHARACTERIZED BY BULLISH MOVE.
Since the AB=CD pattern is the basic framework of all Harmonic patterns, it is an essential consideration in defining any Potential Reversal Zone (PRZ). Although the equivalent AB=CD pattern has been utilized by technicians for quite some time, the idea of an alternate calculation to define other Harmonic patterns was originally outlined in The Harmonic Trader....
Harmonic: Gartley was released that the specific retracements of the B point at a .618 and the D point at a .786 were assigned to the pattern. There are others who have assigned Fibonacci retracements to this framework. However, they use a variety of Fibonacci numbers at the B and D points. Despite these variations, the Fibonacci retracements that yield the most...
wave 4 was expected to move as high as 1556 level to complete the wave5 down to 1520 level to complete both crab harmonic pattern and ewave. then buy begins
The internal trend line with red circle shows how price action react to B. we are expecting to move up from here as the pattern develop.