Reasons/Traits : • Bullish Bat harmonic pattern was seen, now retraced back until point B and got rejected today • Bullish Crab harmonic pattern was seen and it retraced completely • 20 EMA touched 50 EMA today • Good strength in RSI and strong uptrend is seen • Last two candles form dark cloud cover • Currently showing pattern of Bearish Cypher Harmonic pattern
What can happen next : Scenario 1 : If price break 0.618 Fib levels (326) it can go up to 340/360 to complete the Bullish Bat harmonic pattern Scenario 2 : Price breaking 310 can lead to 305/290/285/268 levels
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
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Scenario 1, first target hit and also completes the bullish bat harmonic pattern