TNX - Deep Crab
These harmonic patterns have been a real hit or miss for me. However I couldn't help, but notice that the fibs alligned so nicely.
The "potential reversal zone" is the 1.618 XA project @ 2.519.
The BC projections of 2.24 and 2.618 (both in grey) were used to define the range of that zone.
The AB=CD projection was also include of the 1.272 and 1.618.
1.272 is an alternate target
1.618 because I like the symmetry with the 2.618 BC projection at 2.254.
Despite labeled with a "potential reversal zone", keep in mind the momentum on this sucker. The 30,40, and 50 week MA look like they are ready to flip bullish in the coming weeks if this thing gains some ground.
Not financial advice by any means. I just thought it'd be fun to share. Best of luck!
https://harmonictrader.com/harmonic-patterns/deep-crab-pattern/
The "potential reversal zone" is the 1.618 XA project @ 2.519.
The BC projections of 2.24 and 2.618 (both in grey) were used to define the range of that zone.
The AB=CD projection was also include of the 1.272 and 1.618.
1.272 is an alternate target
1.618 because I like the symmetry with the 2.618 BC projection at 2.254.
Despite labeled with a "potential reversal zone", keep in mind the momentum on this sucker. The 30,40, and 50 week MA look like they are ready to flip bullish in the coming weeks if this thing gains some ground.
Not financial advice by any means. I just thought it'd be fun to share. Best of luck!
https://harmonictrader.com/harmonic-patterns/deep-crab-pattern/
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