Short Idea for EURUSD for the upcoming week
Updated
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The EU has provided a zig zag pattern while inside a major triangle pattern that can be seen on higher time frames. It appears the market has
been forming 3 wave motive moves giving us an AB = CD harmonic pattern that signals price reversal. Points or confluence involve:
trend line
Harmonic pattern
wave pattern
price action
The market has opened with a gap and I anticipate a correction to close it and only then a drop. Therefore my trade levels are as follows:
Entry @ 1.09900
Tps @ 1.09000
@ 1.07800
SL @1.10150
The EU has provided a zig zag pattern while inside a major triangle pattern that can be seen on higher time frames. It appears the market has
been forming 3 wave motive moves giving us an AB = CD harmonic pattern that signals price reversal. Points or confluence involve:
trend line
Harmonic pattern
wave pattern
price action
The market has opened with a gap and I anticipate a correction to close it and only then a drop. Therefore my trade levels are as follows:
Entry @ 1.09900
Tps @ 1.09000
@ 1.07800
SL @1.10150
Trade closed: target reached
Target 1 has been reached, a re-entry for target two would need a confirmation of a channel break and retest.
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