Lot of risk for bears now.
Aggiornato
We failed to break the inflection point and have now broken a couple resistances. Bias is towards R3 if the break/retest holds. 
Even in a bearish pattern, this would be a D leg of a harmonic correction. The end of D legs are the strongest parts. In later context, the rallies recently would look quite tame.
This type of pattern would offer great short ops later, but you'd want to avoid being squeezed so as to be able to take them.
Even in a bearish pattern, this would be a D leg of a harmonic correction. The end of D legs are the strongest parts. In later context, the rallies recently would look quite tame.
This type of pattern would offer great short ops later, but you'd want to avoid being squeezed so as to be able to take them.
Nota
Look what happened when the butterfly completed. Worth knowing about harmonics.
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