I am looking at a possible potential for a sell on
EURUSD
on the Daily Timeframe
If trade goes as planned, I am expecting price to fail once again under the yellow 200 EMA to enter the Sell around our entry at 1.14000
D point on Harmonic pattern is located at entry. It's possible that our entry could come sooner. Keep an eye out for wicks starting to form around 200 EMA in the 1.14375 area for confirmation of short.
It is hard to call the position of entry sometimes when the D leg of the Harmonic pattern hasnt formed yet, so entry could be a hit or miss.
Will update with further analysis once price gets moving
Entry 1.14000
SL 1.14385
TP 1 - 1.13225 (75 Pips)
TP 2 - 1.12500 (150 Pips)
This trade is for educational purposes only and not a recommendation to take this trade :)
EURUSD
on the Daily Timeframe If trade goes as planned, I am expecting price to fail once again under the yellow 200 EMA to enter the Sell around our entry at 1.14000
D point on Harmonic pattern is located at entry. It's possible that our entry could come sooner. Keep an eye out for wicks starting to form around 200 EMA in the 1.14375 area for confirmation of short.
It is hard to call the position of entry sometimes when the D leg of the Harmonic pattern hasnt formed yet, so entry could be a hit or miss.
Will update with further analysis once price gets moving
Entry 1.14000
SL 1.14385
TP 1 - 1.13225 (75 Pips)
TP 2 - 1.12500 (150 Pips)
This trade is for educational purposes only and not a recommendation to take this trade :)
Trade closed manually:
Price failed to break the Blue 50 EMA and push towards the Yellow 200 EMA causing the market to continue to the downside.