UPDATE EURUSD TARGETS:HARMONIC PATTERNS AND PRZ

Short

Euro / U.S. Dollar (FX:EURUSD)

Updated

FX:EURUSD Euro / U.S. Dollar

harmonicpatterns trendanalysis chartpattern

HARMONIC PATTERNS FOR SERIOUS TRADERS
After completing the bearish shark pattern and with a difference of 20 pips from the Shark pattern prz
It is moving towards completing the 0-5 pattern

Comment:

With a difference of 20 pips completed the pattern of a bearish shark Which we mentioned in the previous analysis

The reason for this difference in the lack of accurate treatment of the prz goes back to two issues
One is that due to the very close difference to the bearish cypher pattern, the market probability between the przs chose both bearish patterns to fall.

Another reason is the data used in the analysis, which in the next tutorial post I will introduce the best type of data and the best time frame for using that data to find harmonic patterns.

However, you should always pay attention to the structure of the market when identifying areas
One of the best tools for finding structural support and resistance is the use of channels and the law of channel failure
It is very important that you combine the identified harmonic prz with the structural support and resistance of the market
Entry points are set in lower timeframes
And when you can use this combination to determine the trend change zone with a very high probability
Then you can use trend-following strategies to trade
Warning!
This type of analysis and trading requires a lot of patience
Because the number of entries at point zero to the target is low
And it takes a lot of patience to reach the target
And if you do not enter the right place, you may not be able to find new setup for a long time
However, when the future trend can be guessed with high probability, then we can safely scalp in the direction of the newly formed trend.
Without the need for much patience and the use of indicators to guess the current market trend
I think this is one of the best ways to identify trends

Comment:

The correct labeling is indicated in this photo
There is no change in the analysis and only the names have changed

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