a double top pattern?
first thing is none harmonic pattern has formed yet so this analyze is based on fibo levels and ABCD pattern
1.as you can see the B point could not correct 0.382% of XA wave so it cant be counted as a wave(AB)
it should correct at least on 0.382% fibo ret so the trend can move on.
2.due to the ABCD pattern the bars can go to the D point (at least)
3.the PRZ zone shown by red rectangle is strong and bars can continues to 1.618 level of fibo pro and ALTERNATE 1.618 AB=CD can be formed.
and also the base line of ichimoku cloud is strongly going down which means it wont accept the up trend.
and remember to check the MACD until now its shows the negative divergence but it can change so keep an eye on MACD.
kind regard
1.as you can see the B point could not correct 0.382% of XA wave so it cant be counted as a wave(AB)
it should correct at least on 0.382% fibo ret so the trend can move on.
2.due to the ABCD pattern the bars can go to the D point (at least)
3.the PRZ zone shown by red rectangle is strong and bars can continues to 1.618 level of fibo pro and ALTERNATE 1.618 AB=CD can be formed.
and also the base line of ichimoku cloud is strongly going down which means it wont accept the up trend.
and remember to check the MACD until now its shows the negative divergence but it can change so keep an eye on MACD.
kind regard
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