I have been trading this structure for a long time. I cannot really call it my own, but I have never seen anyone formally designate this as a harmonic pattern. It is not a conventional ratio alignment, but anyone who has been trading with Fibs for a long time should understand the logic behind it.
138.170: this should be the level where there is a significant change of character in price action
If price does reverse at 138.170, it will be VERY strong.
If price blows out this area, it will be VERY bullish.
138.170: this should be the level where there is a significant change of character in price action
If price does reverse at 138.170, it will be VERY strong.
If price blows out this area, it will be VERY bullish.