A number of scenarios: Symmetric triangle > as we seen the middle section (pink rectangle) acting as the magnet for the ranging level\support Potential Harmonic pattern as we have the XABC with 0.5 and 0.96 Established channel - fib.pitchfork channel + above fib.line and below fib. line where historically played resistance and support We have the Macro and Medium formations
My thoughts for the short move, the harmonic makes sense, target D however the confirmation will be required, if it drops out of the triangle formation. If so, we potentially expect a bounce...as part of the overall bearish medium pattern (parting channel - black lines)
4 HRLY chart close up
Symmetric triangle pattern
MACRO overview
Triple top or triple bottom. Its unusual to have triple top play out, less likely.
Catatan
Catatan
It seems the bulls are protecting 10280 however what is to ignite this up is missing...the longer it goes sideways, the less likely it will go up unless there is a drop, a push downwards and if its protected then, it will give the moment that is needed. 10220?
Catatan
Catatan
can it be this?
Catatan
The move came, hitting the 0.5 fib level. Question is can the bulls take it back...I don't think so.
Catatan
chart update: not perfect as per original post but close enough to state two milestones reached (obviously not to scale) in the micro moves
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