Hammer_of_Thor

Hammer_of_Thor

spinning top right at DPR2 and inside the PRZ of fairly harmonic butterfly SELL. besides the intermediate and obvious fib retrace levels, expect significant SPPT around the K-area where DPP and Ichimoku cloud come in. would reinstate longs at that level if level holds. EDIT: i give up--there is still one fib structure missing from the chart--disappears after...

Hammer_of_Thor

i don't understand this! now a rectangle and a fib retrace structure are missing from the chart!!!

Hammer_of_Thor

EDIT: goddam it! tradingview is buggy. still not showing the missing fibonacci retracements!

Hammer_of_Thor

EDIT: something wrong happened--the chart being published is missing on fib retrace structure. trying again.

Hammer_of_Thor

An alternative to the Butterfly BUY idea on H4 is this chart where it is entirely possible mr market will retrace at least all the way to the K-area (grey box) past last week's pivot point. But if market maintains the harmonic underpinning in its moves, then the black diagonal line indicates where the retracement move might end, in the region of this week's pivot...

Hammer_of_Thor

Market could potentially complete a nice harmonic butterfly BUY in K-area and agreement zone. All fib numbers align very nicely. But then again, market is king! ;) That being said, price is now below MPS2 and WPS2 but holding above DPP. If price doesn't break this range beyond MPS2 and WPS2, I would look at a retest of the DPP and K-area since it happens to be...

Hammer_of_Thor

my prediction is that price will hit TP1 zone, reverse off it and go back down mid- or even test lower channel bound, then reverse again and continue higher (in a stepwise fashion or not, considering a lot of market moving news is coming out this week, it could simply just trigger a rocket to TP2.

Hammer_of_Thor

potential re-test of key S/R with potential butterfly SELL completion in a PRZ around 1440

Hammer_of_Thor

we are nearing the moment when there will be a breakout out of this rectangle and the move will be big, either up to major RSST at 1415/20 or down to major SPPT at 13450/60.

Hammer_of_Thor

A perfectly harmonic Butterfly BUY where price hits all the right levels.

Hammer_of_Thor

An example of a textbook Butterfly BUY.

Hammer_of_Thor

Market is in price discovery mode right now. Anything is possible: Either Butterfly SELL after we hit the upside significant levels, or the bull run fails at the MPR1 @ 1,378.6 and we get a bearish AB=CD structure.