we saw breakdown and result ... Now comes question "Whats next?" To answer this we will use Harmonic pattern as well as learn it.. some of you may have seen colourfully drawn Harmonic patterns named as BAT,GARTLEY,BUTTERFLY but wondering as to what they are --- here is an easy set of illustrations 1. 2. XA = 804 AB = 10490-10094= 396(49.4% OF XA) since AB has retraced almost 50% of XA we are labeling it as BAT pattern. BC can retrace 38.2 to 88.6% of AB. here it has retraced 81%. 3. now comes final conclusion- 4. pictorial
there are 2 other possibilities A) B) this possibility has target of harmonic pattern ...
CONCLUSION- 1ST SUPPORT 10073, BELOW THAT WE CAN EXPECT 9900..
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