This here, is a time when market just doesn't know what to do. It went up and now is just consolidating, with no hints whether it's going up or down. However, during consolidation means there are opportunities for harmonic patterns and in this case, there are 2 : a potential bear AND bull Butterfly pattern. Eventhough RSI, in this case, isn't helping much, both patterns, if completed, with be at previous structure. So, this might be a very nice opportunity for both pattern traders and structure traders.
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Disclaimer
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.