When looking at the initial trend, you will see that we have a break out in the trend. From a bearish 5 months - July to Nov 2021.
The crash became clear and significant on the 1st of December when the market fetched SL's.
Now enough on that.
We have a few confirmations.
1. Head and shoulder to form
2. OB between 27k to 29k (Banks buy on this level)
3. 2...
Since the major drop from December 2021. We can expect a further drop until the end of January. We will retest and drop further into the 30k zone. We will then push up to back to where we came from +60k
So in this idea, we take the concept for Harmonic flow sequence from A-E and also implement the Daily resistance measures.
This helps as a guide as to where you may look to place your TP and when to put a BS(Buy Stop).
We also look at the technical charts for assistance trend analysis for the day to make the illustration more accurate.
