Euro / British PoundShort
An interesting pattern
Updated
Hi guys,
i don't like to trade all the harmonic patterns i see, especially in lower timeframe. But sometimes it happens that they satisfy certain criteria that makes me comfortable using them as entry reasons. In this case you can see that the D point is coming right into a structural zone that i've highlighted on the higher timeframe (daily) and therefore the likelihood of this short is increased by the presence of that strong level that could now act as resistance. I don't know it it's going to be triggered by the end of this day, but in that case i will update the idea with stops and targets, as usual.
If you have questions/ideas, let me know.
Otherwise, see you in the next chart!
i don't like to trade all the harmonic patterns i see, especially in lower timeframe. But sometimes it happens that they satisfy certain criteria that makes me comfortable using them as entry reasons. In this case you can see that the D point is coming right into a structural zone that i've highlighted on the higher timeframe (daily) and therefore the likelihood of this short is increased by the presence of that strong level that could now act as resistance. I don't know it it's going to be triggered by the end of this day, but in that case i will update the idea with stops and targets, as usual.
If you have questions/ideas, let me know.
Otherwise, see you in the next chart!
Note
Depending on your order level, you could have been executed and you could have profited from this idea. Unfortunately, my order wasn't triggered. But it was a good trade and a good analysis. Hope you've had the chance to take some pips out of the markets!
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