EDC has potentially completed a Bearish AB=CD harmonic pattern with potential reversal zone (PRZ) around 6.29 (6.21~6.38 range). The harmonic pattern also potentially completed as EDC hits the immediate resistance at 6.30.
*RSI entered the overbought territory while price failed to break resistance, a bearish sign.
*Trend remains strong (DMI/ADX).
*Buying pressure remains intact.
Trading Plan
- Wait for reversal pattern.
- Or take some profit/scale down position and profit run the rest with trailing-stop.
I did some back test sa mga harmonics nyo. wala akong masabi. sa EDC (March2016) at sa PHEN(march2017) completing bullish shark ata yun. Galing! di ko lang sure kung ano mas okay, indicators or harmonics.. newbie here.
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