It might be a good opportunity to inter in this strong harmonic area with tow potential target .
and as harmonic rules if the price action violated the red zone you should put - sell stop limit - under it by some points and get some profit ..
I welcome your opinion and comments :)
here there are three potential harmonic area .. with a strong harmonic area plus bottom of price channel ..
and if the reversal happen i assume that the price action will draw a shark pattern with 0-5 also .. and that dependents on Elliot Waves ..
what do you think ??
If price action crosses the first yellow zone , it will be a potential reversal opportunity at the second yellow zone .. because it has 4 numbers of Fibonacci with price around to the top of the price channel ..
so it might be a good opportunity , but we have to observe chart to catch confirmations .
There is a potential reversal opportunity if the price arrive to yellow zone .. because it has 4 numbers of Fibonacci with price around to the top of the price channel ..
so it might be a good opportunity , but we have to observe chart to catch confirmations .
you can see here the convergence zone which calculation 3 numbers of fib , and its already completed ab=cd pattern, and about to complete bat pattern .
in addition the price action arrived to the top of price channel .. so, I extremely thing its a significant PRZ ..
But we still should observe chart to find the reversal sign and further confirmations ..