On the weekly timeframe mosaic is showing an harmonically pleasing 3 Drives. The 3 drives down are highlighted in red, the corrections in blue. WE also have a Schiff pitchfork from the top of the pattern aligning quite closely with last weeks close.
The harmonic 3 Drive pattern consists of 3 dramatic falls in price. These are intersected with 2 corrections which are usually similar or identical in price and time, as you may notice this pattern displays this almost to perfection.
The "ARC" or bowl in the centre is possibly the beginning of an Adam n Eve pattern, a type of double bottom pattern. interestingly the Arc aligns with the 50% line of the overall pattern.
For confluence I have added the volume indicator which shows us we may have had a selling climax event with way above average volume on weekly.
The RSI has been added to show a divergence between price and oscillator.
All together an overall pleasing harmonic arrangement with confluence as a bonus.
Lets see what next week brings.
The harmonic 3 Drive pattern consists of 3 dramatic falls in price. These are intersected with 2 corrections which are usually similar or identical in price and time, as you may notice this pattern displays this almost to perfection.
The "ARC" or bowl in the centre is possibly the beginning of an Adam n Eve pattern, a type of double bottom pattern. interestingly the Arc aligns with the 50% line of the overall pattern.
For confluence I have added the volume indicator which shows us we may have had a selling climax event with way above average volume on weekly.
The RSI has been added to show a divergence between price and oscillator.
All together an overall pleasing harmonic arrangement with confluence as a bonus.
Lets see what next week brings.
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Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.