as we see, we are seeing an obvious harmonic pattern with exact percentages of fibo levels below:
0.83
0.85
1.66
1.366
we can completely say that the main bullish move from 164.682 just formed because of the previous harmonic pattern, but because price formed a fake break out ( showed by a yellow rectangle around 167.360) we can say that the bullish movement is just finished, and we can expect the market to form a retracement move toward 165.172
im looking for confirmation, and prepare for sells.
lets see how the market goes juje traders ;-)
0.83
0.85
1.66
1.366
we can completely say that the main bullish move from 164.682 just formed because of the previous harmonic pattern, but because price formed a fake break out ( showed by a yellow rectangle around 167.360) we can say that the bullish movement is just finished, and we can expect the market to form a retracement move toward 165.172
im looking for confirmation, and prepare for sells.
lets see how the market goes juje traders ;-)
Trade closed manually:
closed on profit ;) small profit