As I always suggest never hurry in trade. Look for market excitement & then follow them, you will be more happy.
We have bearish harmonic with B leg- retracing 38% which is slightly different from bearish gartley as B leg minimum retracement should be 61.8%.
How to execute
Travelling below 470 or close to 480 without moving above 480 highs & falling back below 473 should be keenly watched as entry point for some red movement.
This is weekly chart & if falls as expected holding 480 on upside. It can take 4-5 months for fruitful results & never forget to book partial profits in between.
Targets downside shall be 415-405 Zone. Below 405-407 Zone for 375-380 Zone & Below 375 for 355-325.
Sep 2016 Update - B Wave Triangle with Missing "e" leg
Result of the update "d" leg got extended downside & formed double bottom in 405-407 zone then pushed for "e" leg upside for 500-515 Zone
Nov 2016 Update - E- Wave in progress of Triangle
Result of the update - E- wave started for the joorney of 500+
Jan 2017 Update - Hold your nerves for the fall from 500
Result of the Update What a fall which extended to 355 lows when you go back to this update.
April 2017 Update - Act like a lawyer
Result of the update Lawyer cracked the case with clues like trendline, candlestick pattern & fibonacci retracemet.
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13:20 Hrs 17th Oct2017
Last Price@471
Psychological level of 470 is taking lot of time to break so if any short positions book partiala profits & wait for bounce to sell close to 480 levels
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14:42 Hrs 17th Oct2017
Last Price@470.75
Holding very tight on downside between 468-470 - if this zone is intact downside we can expect bounce here as well close to 475-478 zone. As suggested earlier 480 should not be breached on upside.
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15:11 Hrs 17th Oct2017
Last price@473.50
Bounce is on from 469-470 as suggested 30 mins back
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15:22 Hrs 17th Oct2017
Last Price@473.70
What ever you can squeeze here for short term buy call squeeze & be out as markets are ending. We will sell below 469 next or if we see resistance close to 480 highs -holding 480 on upside in next session.