Hello all, this is my first harmonic post, so be easy; although, all corrective criticism is appreciated. I'm taking this trade for a few different reasons.
1. Reversion to the mean. We have just broke down through a wedge, and now will more than likely bounce and test broken bull trendline.
2. SCMR- My killer software is signaling a potential reversal on several intra-day time-frames.
3. According to my research, this seems to be a valid harmonic.
4. Oscillators are primed for a pump/bounce, sorry you will have to excuse my bitcoin lingo lol.
5. Pattern completes at the .764 of the last move down.
I am currently long for the move up, but will follow my plan accordingly and sell on completion of the pattern. Good Trading!
1. Reversion to the mean. We have just broke down through a wedge, and now will more than likely bounce and test broken bull trendline.
2. SCMR- My killer software is signaling a potential reversal on several intra-day time-frames.
3. According to my research, this seems to be a valid harmonic.
4. Oscillators are primed for a pump/bounce, sorry you will have to excuse my bitcoin lingo lol.
5. Pattern completes at the .764 of the last move down.
I am currently long for the move up, but will follow my plan accordingly and sell on completion of the pattern. Good Trading!
Note
I have now taken profit on my long and have entered short
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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.