An alternative to the Butterfly BUY idea on H4 is this chart where it is entirely possible mr market will retrace at least all the way to the K-area (grey box) past last week's pivot point. But if market maintains the harmonic underpinning in its moves, then the black diagonal line indicates where the retracement move might end, in the region of this week's pivot point.
then it becomes a question of whether market fails to decisively breach this pivot point, in which case the bear slide will resume and eventually gives us a 3-drive BUY pattern if it stops at the correct fib extension level, but considering the time development market has needed so far, it looks like this 2nd scenario won't find actualization until at least next week.
then it becomes a question of whether market fails to decisively breach this pivot point, in which case the bear slide will resume and eventually gives us a 3-drive BUY pattern if it stops at the correct fib extension level, but considering the time development market has needed so far, it looks like this 2nd scenario won't find actualization until at least next week.