It has made a Bearish Harmonic Bat in daily time frame. It could retrace till 1200/1175/1100 provided it does not start sustaining above 1270 once again.
Harmonic Patterns are derived from Fibonacci Ratios when each angle of retracement aligns to confirm a reversal probability of 38-50-62 % of the existing trend.
Harmonic Patterns are derived from Fibonacci Ratios when each angle of retracement aligns to confirm a reversal probability of 38-50-62 % of the existing trend.
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