Projected at 1562 and above the monthly fractal resistance - one eventual bearish crab pattern extended at 161,8% fib extension. The pattern formation will suggest a retracement which may put the price trading back to the 38% fib projected at 15173 (back to the weekly resistance now as potential support) and the golden fib as a second target projected at 1490.
@otavio_barreto, Hi Otavio, It makes no sense to project that pattern now! First you need the breakout of the weekly support (your point b). That will open the door to form patterns below, and if you project the bat pattern you should also project the alt-bat and the crab patterns below your point D. Your view also suggests a deeper pullback without a motive because you don't have a pattern offering you that short. A violation of the weekly support without breaking above the monthly resistance will increase the probability to form patters below, and even tho, we never know if the pattern will form. ;) All the best and safe trades. André
otavio_barreto
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@Andre_Cardoso, yeah I agree It's a possible pattern not sure, but it's also based on harmonic time between waves and also based on D1 crab and weekly butterfly let's see how it plays out, harmonic time waves+ multi timeframe Harmonic patterns confluences it's very possible. so about the bat and crab it's very unlikely it do not correct 38.2% on first formation after extends to crab but I also agree it's possible too.
Yes, seems right and should see in the week coming.
Andre_Cardoso
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@Erland, seems right? I don't know! I know the pattern will form there, if it will work, i never know! They can rally with the precious and the pattern will invalidate. The only thing i know is where the pattern will form. Safe trades.