As a followup from earlier, we have now retested the aforementioned patterns with PRZ between 2280-2290 and an exact ABCD @ 2320. (I incorrectly mentioned 2310 in original post.)
Regardless, the Terminal Bar traded as high as 2330 as the price action hit the PRZ.
Remember, harmonic patterns have two reversal classifications :
Type-I = Reaction to 382/618 target. Aggressive/automatic management.
Type-II = Better situation for larger reversals to unfold AFTER FULL RETEST OF ORIGINAL PRZ! Discretionary&automatic management.
Currently, the pattern's Terminal Bar indicates "permissible" overspill rally as high as 2330. The AB=CD completion at 2320 was just triggered on the last hourly bar, ending the "identification phase" and now looking to EXECUTE beyond the Terminal Bar (+1,+5). PRZ levels 2280-2320, stop>2360, profit target1@2025 + profit target1@1900.
But, this IS the absolute point to jump from harmonic pattern to harmonic pattern opportunity.
Regardless, the Terminal Bar traded as high as 2330 as the price action hit the PRZ.
Remember, harmonic patterns have two reversal classifications :
Type-I = Reaction to 382/618 target. Aggressive/automatic management.
Type-II = Better situation for larger reversals to unfold AFTER FULL RETEST OF ORIGINAL PRZ! Discretionary&automatic management.
Currently, the pattern's Terminal Bar indicates "permissible" overspill rally as high as 2330. The AB=CD completion at 2320 was just triggered on the last hourly bar, ending the "identification phase" and now looking to EXECUTE beyond the Terminal Bar (+1,+5). PRZ levels 2280-2320, stop>2360, profit target1@2025 + profit target1@1900.
But, this IS the absolute point to jump from harmonic pattern to harmonic pattern opportunity.
