Observation based on the chart:
A number of scenarios:
Symmetric triangle > as we seen the middle section (pink rectangle) acting as the magnet for the ranging level\support
Potential Harmonic pattern as we have the XABC with 0.5 and 0.96
Established channel - fib.pitchfork channel + above fib.line and below fib. line where historically played resistance and support
We have the Macro and Medium formations
My thoughts for the short move, the harmonic makes sense, target D however the confirmation will be required, if it drops out of the triangle formation.
If so, we potentially expect a bounce...as part of the overall bearish medium pattern (parting channel - black lines)
4 HRLY chart close up
Symmetric triangle pattern
MACRO overview
Triple top or triple bottom. Its unusual to have triple top play out, less likely.
A number of scenarios:
Symmetric triangle > as we seen the middle section (pink rectangle) acting as the magnet for the ranging level\support
Potential Harmonic pattern as we have the XABC with 0.5 and 0.96
Established channel - fib.pitchfork channel + above fib.line and below fib. line where historically played resistance and support
We have the Macro and Medium formations
My thoughts for the short move, the harmonic makes sense, target D however the confirmation will be required, if it drops out of the triangle formation.
If so, we potentially expect a bounce...as part of the overall bearish medium pattern (parting channel - black lines)
4 HRLY chart close up
Symmetric triangle pattern
MACRO overview
Triple top or triple bottom. Its unusual to have triple top play out, less likely.
Nota
Nota
It seems the bulls are protecting 10280 however what is to ignite this up is missing...the longer it goes sideways, the less likely it will go up unless there is a drop, a push downwards and if its protected then, it will give the moment that is needed. 10220? Nota
Nota
can it be this?Nota
The move came, hitting the 0.5 fib level. Question is can the bulls take it back...I don't think so.Nota
chart update: not perfect as per original post but close enough to state two milestones reached (obviously not to scale) in the micro moves 
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Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.