On 4h scale, Bearish reversal AB=CD Harmonic pattern has been drawn. Once the trend enters Potentially Reversable Zone (PRZ) and if RSI bearish divergence is also present then it will indicate a Bearish reversal.
Also note that vale of C point retracement is 0.706 which is close to ideal 0.707 that corresponds to BC Projection of 1.41. Accordingly Point D has been placed.
Now if divergence is observed then on establishing Bearish reversal pattern by seeing LH and LL, one should enter the trade.
Also note that vale of C point retracement is 0.706 which is close to ideal 0.707 that corresponds to BC Projection of 1.41. Accordingly Point D has been placed.
Now if divergence is observed then on establishing Bearish reversal pattern by seeing LH and LL, one should enter the trade.
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.
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.