


PRZ is roughly 27 pips and is based on the following: A crab pattern completion Major resistance of daily/weekly chart RSI overbought An ABCD I'm waiting for double top and RSI divergence
Right now at point C: - C (blue zone) is 38.2% retracement. - A doji formed (1H) - Price broke out of the triangle at point C to the downside and now heading towards D, retested the breakout. (5M chart) - A retest on C zone (15M). Formed almost equally high, but RSI is showing divergence. Will price come into the PRZ at point D?
Looks like price is trying to complete a bigger harmonic move which could end at the minor retracement of 50%. Price can also push a little further into the PRZ. At this PRZ a bullish bat can continue the bigger uptrend Right now i'm shorting this pair based on RSI divergence..
A cypher completion? 1. Could point D crystallize within a PRZ? If so we could see a reaction towards T1. (And price could break down to the lows of the bearish channel. Maybe an extension of 1.272 downwards?) 2. Or price could only fall into T1 and then go up further to point X? (And maybe break out of the channel retracing back up the 618 in green) 3. Or...
Potential bearish gartley (15M). Currently in an aggresive C-trade based on bullish cypher
Shorting on the double top, anticipating that price will retrace back to previous major structure.
A potential bearish bat (H1) is almost completed. Also a bearish cypher have been completed in the same PRZ. Edit: I'm sorry, the bearish bat is already completed. But the bearish cypher gives a second chance. I'm shorting this pair.