Short

EURGBP: Filled with Harmonic Patterns + Structure

It really looks like a mess of harmonic patterns and structural levels, but I personally think there are lots of opportunities here.

Identify:

Harmonic Patterns: 2 Bearish Bats + 1 Bearish Crab
3 Structural Levels (Green & Blue Zones)
Fib Clusters found at completion of Harmonic Patterns
Fib Cluster 1 is found at the Bearish Bat pattern completion (Blue) where the 1.272 extension of the Swing High-Low of the XA leg of the (Orange) Bearish Bat Pattern matches with the 1.618 extension of the XA leg of the (Purple) Bearish Crab pattern
Fib Cluster 2 is found at the Bearish (Orange) Bat Pattern completion: 1.414 BC extension of the pattern matches with the 0.618 XA retracement of the larger (Blue) Bat pattern.
All Fib clusters are found in agreement with the Structural Zones.
Easier to see on the 4 hour timeframe, but the red structural zone is one that has been respected several times making it a major structural level.

Predict:

Price Action continues up to make HHs and HLs up to the Orange Bat Pattern completion at 0.714.
Price action then could drop to retest the B point that matches structure and the 0.382 Target.
Price action could then reverse to make HHs and HLs up to the Crab and Bat Pattern completion.
I would then look for targets being the 0.382 and 0.618 CD retracements.

akhostov

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