Hello traders on this analysis i started off by just putting a fib channel on the retracement move from my prior PRZ. I then noticed how the structure was aligning from another harmonic pattern was starting to develop. The last major swing the market made was a .505% retracement for the AB leg so the next CD swing should follow through with a 1.981 ext. Why such this odd number? because this is the reciprocal of the trend that stared before and oddly enough, the new harmonic pattern starts exactly where the old trend stopped. LMK what you think of this analysis and drop some feedback if you'd like , I'd greatly appreciate it!
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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.