Fits the bill for a bearish shark harmonic. Initial targets are point (b) and the 0.618 retrace of the CD leg. Notice the divs across multiple oscillators. Also a pretty convincing rising wedge, possibly an ending diagonal wave B.
85.4% is a pretty common retracement for wave A's also (the 0.854 fib from the local high)
85.4% is a pretty common retracement for wave A's also (the 0.854 fib from the local high)
Note
I would consider this valid up until a close above this price area. Trade active
Watching for a break of the lower support here.Note
Looks like a fractal rising wedge that we broke down from Feb. 20th. I see these two scenarios, either we just completed wave 5 and will enter corrective phase (yellow path) or wave 3, with this being wave 4 (red path). Or, of course, I'm wrong entirely!Trade active
imgur.com/a/4rbZTHarmonic is still valid until we breach $12,080.
New price targets: $10,500, $10,200, $8,800 & $7,800
Price targets if $12,000 is top: $10,500, $10,350, $8,700, $7,600
Trade closed: target reached
Monitoring for second and third targets. Have a feeling we might stall around $10,200.Note
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.