EUR/USD Harmonic Pattern & Trend Analysis – Bullish Continuation
This chart is a EUR/USD 30-minute price chart from TradingView, showing a harmonic pattern (likely a Gartley or Bat pattern) along with trend channels and a projected price movement.
Key Observations:
Harmonic Pattern:
The blue shaded area represents a harmonic pattern, likely a Bullish Bat or Gartley pattern.
The labeled points X, B, C, D indicate the harmonic structure, with a completion near X.
Uptrend & Trend Channel:
The price is following an ascending channel, respecting the upper boundary near 1.0940 - 1.0950.
The D-point completion of the harmonic pattern suggests a potential pullback before further continuation.
Projected Price Movement:
The black arrows indicate a possible scenario where price retraces slightly before continuing its bullish move.
The blue arrow highlights a key level where buyers might step in for a new push higher.
Volume Considerations:
There is moderate volume supporting the current uptrend.
If volume remains strong on a pullback, the bullish breakout has a higher probability.
Conclusion & Trade Idea:
Short-term: Expect a small retracement before potential continuation.
Bullish Breakout Confirmation: A breakout above 1.0950 could trigger more upside towards 1.0970 - 1.1000.
Risk Management: If price falls below 1.0890, it may invalidate the bullish outlook.
Key Observations:
Harmonic Pattern:
The blue shaded area represents a harmonic pattern, likely a Bullish Bat or Gartley pattern.
The labeled points X, B, C, D indicate the harmonic structure, with a completion near X.
Uptrend & Trend Channel:
The price is following an ascending channel, respecting the upper boundary near 1.0940 - 1.0950.
The D-point completion of the harmonic pattern suggests a potential pullback before further continuation.
Projected Price Movement:
The black arrows indicate a possible scenario where price retraces slightly before continuing its bullish move.
The blue arrow highlights a key level where buyers might step in for a new push higher.
Volume Considerations:
There is moderate volume supporting the current uptrend.
If volume remains strong on a pullback, the bullish breakout has a higher probability.
Conclusion & Trade Idea:
Short-term: Expect a small retracement before potential continuation.
Bullish Breakout Confirmation: A breakout above 1.0950 could trigger more upside towards 1.0970 - 1.1000.
Risk Management: If price falls below 1.0890, it may invalidate the bullish outlook.
Trade active
Pattern Identified: Possible Bullish Bat/Gartley harmonic pattern.
Trend: Uptrend within an ascending channel.
Key Levels:
Support: 1.0890 – 1.0910 (possible pullback zone).
Resistance: 1.0950 – 1.0970 (breakout level).
Projection: A minor retracement before potential bullish continuation.
Risk Management: If price falls below 1.0890, bullish bias may be invalidated.
Trade closed: stop reached
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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.
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Related publications
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.