TerryHarmonicTrading

EURUSD - Why I will not buy this Deep Gartley?

FX:EURUSD   Euro Fx/U.S. Dollar
23 days ago
Hey traders, just an update on EURUSD             this week.

On the daily chart , I am sure many traders spotted this Deep Gartley ( AB=CD pattern completed beyond 78.6)

These are the reasons I will not go long on this pattern.

1. Put in the parallel channel, it is in the middle of nowhere
2. RSI no divergence
3. PRZ bashed through without hesitation

What's next?
As with all failed Gartley patterns, it has the potential to become a crab pattern which will complete much lower around 0.9872. (161.8 XA).

Euro             and USD is almost guaranteed to reach parity, this is scary.

Good for US citizens to go on a holiday too, bad for all other countries including where I am from, Singapore.

Meanwhile, use simple moving averages (I use ema 34) to keep shorting Eurusd             on every retracement, I am currently holding a short on GBPUSD             which I expect it could reach 1.2150.

Good trading guys!

23 days ago
Comment: Consolidated my view into a blog post.
Check it out if you like my analysis.

http://www.harmonicforex.com/wma/bold-prediction-eur-and-usd-will-reach-parity
19 days ago
Comment: Download my game plan for week 46 with video attached.

http://www.harmonicforex.com/terrys-weekly-forex-market-report/week46report
Harmonic trader based in Singapore. Learned directly under the great Scott Carney. For FREE live trading webinars, trading resources and market analysis, please do visit my website at Harmonicforex.com
This week's report is out, I will cover Gold, DXY and USOIL.

http://www.harmonicforex.com/terrys-weekly-forex-market-report/week48report
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