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Although B & C legs of the harmonic patterns give clues about the D leg completion level or the PRZ, yet the pattern is not considered confirmed unless it is complete. That's why it is suggested to trade them after reversal confirmations at the PRZ.
We both are trying to follow the clues but confirmations are not there yet.
If you see my post carefuly, I do have given importance to 132. And said that bears might activate the butterfly below that level. That break would fail the gartley too, if it happens at all, and add further bearishness. So for me, the downside is active below 132.
On the upside, I might change my stance above the down trend line and watch for the gartley :)
What is the neckline breakdown level for this H&S ?
Neckline as H&S it is far Away. Neckline means Connected between LS & RS, it is @ 166+
I think neckline is not that high, I ll have to check it as soon as I get to my lappy.
1) In the Harmonic pattern you just made, B leg didn't retraced exactly 0.618 (as in behaves in a Gartley) but lesser. So its b/w
0.382 to 0.618 which qualifies for a bearish Crab not Gartley. In that case it could go as high as 218. But I ll look for
bullish confirmation above the downtrend line or preferably above 165.
2) The neckline for the H&S shown on your chart comes at around 130/131.
So the area of 130-132 is crucial for the downside trades.