chrystael

COMBINATION OF METHODS: BEARISH BUTTERFLY AND ELLIOT WAVE

Short
FX:EURUSD   Euro / U.S. Dollar
Red line: Elliot wave count. please refer to my previous post on how to count Elliot wave if you dont really know

Green line: 1: Down trend of elliot wave counted and
2: 4hrly resistance and support

Purple line: 1: weekly resistance and support line. it has a strong effect on determining reversal or continuation.
2: ab=cd harmonic pattern to be completed with the Elliot b to c waves likely

Brown callout: 1: ab=cd harmonic pattern to be completed likely and
2: areas of fibonacci clusters aligning with resistance and supports of weekly and 4hrly charts

how to trade:

as usual, use nice entry technique. may be a double or triple top, if need be to go to lower time frame for clarity, please do and most important with RSI divergence.

dont forget your risk to reward ratio. you could alter to suit you or the market flows.

if there is any alteration in the trade, i will make the update.

thanks

wishing you luck.