EURUSD: BEARISH ABCD PATTERN WITH GOOD RISK TO REWARD ON 4 HR !!
Hello Traders,
Here we have a VALID BEARISH HARMONIC ABCD PATTERN on
EURUSD
, that recently got completed. Note that since the market is currently at the completion point for this pattern, this trade is considered to be ACTIVE now. The overall short term 4 HR trend is to the downside, with the market coming back deep into PRZ, giving us a nice shorting opportunity. The stop loss for the ABCD pattern is placed 10 to 20 pips above the 161.8% Fib extension level, which also allowed us to hide our stop loss just above the PRZ. The Risk to Reward is also favourable, 1 to 1 for the 1st target. See the chart above for more details.
Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :)
Here we have a VALID BEARISH HARMONIC ABCD PATTERN on
EURUSD
, that recently got completed. Note that since the market is currently at the completion point for this pattern, this trade is considered to be ACTIVE now. The overall short term 4 HR trend is to the downside, with the market coming back deep into PRZ, giving us a nice shorting opportunity. The stop loss for the ABCD pattern is placed 10 to 20 pips above the 161.8% Fib extension level, which also allowed us to hide our stop loss just above the PRZ. The Risk to Reward is also favourable, 1 to 1 for the 1st target. See the chart above for more details. Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :)