Completion of a harmonic pattern suggests price to go short, which is what we are currently seeing at the moment. Price is still under the 200 EMA which suggests that price is still in a downtrend.
On the 4H chart, we can see another completed harmonic pattern and a rejection of the resistance which suggests that price will currently be bullish. Price has also found support at the 0.382 fib line.
Expecting price to find resistance at the 0.286 fib level before going bearish and breaking out of the upward channel.
On the 4H chart, we can see another completed harmonic pattern and a rejection of the resistance which suggests that price will currently be bullish. Price has also found support at the 0.382 fib line.
Expecting price to find resistance at the 0.286 fib level before going bearish and breaking out of the upward channel.