If we think that there will be a harmonic pattern, the resistance and support points should coincide with the specified areas on the chart.
When we examine the price levels and the resulting pattern, it is clear that a harmonic pattern is about to form.
Assuming that the XAB legs are formed, we can predict exactly where the C and D legs will extend.
I see that the indicator data supports this idea. From the EMA data, we can think that this movement will not end the uptrend, on the contrary, it will continue.
Note: This is not investment advice.
When we examine the price levels and the resulting pattern, it is clear that a harmonic pattern is about to form.
Assuming that the XAB legs are formed, we can predict exactly where the C and D legs will extend.
I see that the indicator data supports this idea. From the EMA data, we can think that this movement will not end the uptrend, on the contrary, it will continue.
Note: This is not investment advice.
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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.
Related publications
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.