The setup for this summers trade including an overview of the price action leading to this trade outlined above.
Longs can be established between the 0.786AB & 0.886AB levels.
Extreme short targets for the smaller harmonic are located just below the 0.886AB level; consequently, stops have been given generous room, and I have placed them appropriately below point A(1.2747), given the size of this pattern.
Profit targets are at significant price points but I will be looking to run this trade up past this year's high assuming the dollar does not continue to appreciate overwhelmingly via QE elimination and negative EU interest rates actually being implemented.
"Audentes fortuna iuvat"
Longs can be established between the 0.786AB & 0.886AB levels.
Extreme short targets for the smaller harmonic are located just below the 0.886AB level; consequently, stops have been given generous room, and I have placed them appropriately below point A(1.2747), given the size of this pattern.
Profit targets are at significant price points but I will be looking to run this trade up past this year's high assuming the dollar does not continue to appreciate overwhelmingly via QE elimination and negative EU interest rates actually being implemented.
"Audentes fortuna iuvat"