EURNZD is completing a conglomerate of potential harmonic patterns to produce a highly confluent kill zone. In addition to a host of pattern completions, there is added support from a long term trendline and another strong S/R area further below price. SL is placed below the S/R area and targets placed at the .382 and .614 retracement of CD. Confluence in the PRZ:
1. Bullish Gartley pattern completion
2. Bullish crab pattern completion
3. Bullish deep crab pattern completion
4. Bullish butterfly pattern completion
5. 2BC Projection
6. .786XA
7. 2.13AB=CD (Coincides with its .886AB reciprocal ratio)
8. 2.618BC Projection
9. Long-term trendline support
10. Strong S/R area
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Trade closed: target reached
T2 Achieved painlessly!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.