In EURGBP we have a bullish cypher completion with D point formed at a long term uptrend.
Daily Uptrend:
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With the completion of the cypher we have the completion of a reversed H&S pattern i posted about a week ago. Something that makes this setup a high probability one
what do u think the next move will you UPDATE ur view ,
In my Opinion i think he finish he's 4 & ABC & FACE a WEEKLY RESISTANCE move and will start a down TREND soon
aziz.au
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Hi Fxpro, how exactly do we enter this trade? Enter while the price breaks the blue rectangle above? And how do you place SL? 20/30 pips below bottom pivot?
Fxprotrader
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There are several ways to trade the harmonics.. Especially when completed at higher time frames. The most common is with placing an order at the D point, in this setup at 0.76640. As for stoploss you may place it below X point of the pattern.. I hope that helps!
aziz.au
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Thanks helpful. Would you worry with BREXIT about this trade at all?
Fxprotrader
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Yes, but i truly believe that patterns in structure form and work well because something is happening in the world. Now Brexit is something to worry about but i will take this pattern because it has formed at a key level
Almohaj
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Good Idea
Fxprotrader
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Thank you
Metafora
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Also If the price turns up it will complete a reversal H&S pattern. Nice and cheap set up. Thank you.
In my Opinion i think he finish he's 4 & ABC & FACE a WEEKLY RESISTANCE move and will start a down TREND soon