Daniel.Dalo

EURGBP - Harmonics and Supply/Demand

FX:EURGBP   Euro Fx/British Pound
Price has almost hit the completion point D of the purple Butterfly pattern , which is in confluence with the 127.2 - 141.4 extension for the C point of the white Cypher pattern , so a nice play could come out of this harmonic moves.

I'm currently waiting for price to move a bit more to see if I can get the Butterfly pattern to complete and enter this market, with first target around the Supply zone ahead between the round numbers 0.71400 - 0.71600 (give maybe 6 pips more) and second target at the completion of the Cypher , where my plan is to get short IF and only IF price action show me that it intends to go down, because this Cypher is not that well placed in terms of structure.

Good luck everyone and happy trading!
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