OANDA:EURUSD   Euro / U.S. Dollar
Happy Friday, Troops. I haven't been active in a while- I've been working on those 5-o's. They still aren't doing anything for me, I'm a much bigger fan of the Ms             and Ws, but here goes.
As harmonic swing traders we look at the daily chart for direction and use the 4 hour to find a pattern that fits direction (in a nutshell)- I occasionally look at daily patterns with support and resistance from weekly charts but that's once in a blue moon.
If you look at this daily chart there's a ascending wedge ; within said wedge we have a 3-drive pattern. I'll be long until the 3-drive is complete. At which point, a bearish 5-o             is completing on the daily chart . I'll be looking for a short signal from around 1.095( ish             ), and entering until the pivot point around 1.06.

Again, I'm new to the whole 5-O             game, it was suggested to me by a friend- lets see how this plays out!

Interesting observation. Drive 2 is in play currently at 78.6. Anticipating a target of 1.272 extension before Drive 3 begins.
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