DX has completed a Bearish Crab at its extreme PRZ target. PRZ aka Potential Reversal Zone, is the completion target of a harmonic pattern. There’s also an emerging pattern as shown on the left chart with brown dashed lines, that is attempting to find it’s 3rd out of 5 points and this is the maximum target for that 3rd triangle point. The ideal harmonic scenario is a retracement of the Bearish Crab to its ideal minimum target of 82.715, this will lock in the emerging brown pattern’s 3rd leg.
The left chart shows that an intraday perspective also shows price testing an ABCD bearish pattern PRZ at 84.945, a rejection here has its ideal minimum retracement target of 84.475, below there has the ideal target of 83.730 and scaling points at 84.190 and 83.988. This 100% retracement of the ABCD doesn’t get price near enough to that 82.715 target,so this will need to be a very strong ABCD pattern to initiate more than a 100% retracement.
So there’s a potential pull back from 84.935 to test 84.645 or 84.475, below there has the ideal target of 82.715 and scaling points at the gray fibs located on the right chart.
A hold above 84.475 or more important above 84.993 has a target of 85.650, and scaling points at 85.201 and 85.526.