Hello Trading View,
Here on the EuroYen, we are seeing a reversal of a bearish trend .
Price has made higher highs, and higher lows, confirming my directional bias.
Topside projection of the ABCD pattern is the 2.618 expansion of the BC leg, due to the B retracement of 0.382 of the impulse leg.
Typically you are supposed to trade this from the topside down, but if you're an aggressive trader, this might be your trade.
After completion of the ABCD pattern, we have a valid short, as price has completed a Bearish Bat.
Bat confluence due to price action reacting to all necessary ratios, and the completion of the ABCD pattern, which is essential to all 5 Point harmonic patterns.
Before pulling the trigger in the PRZ, monitor price action for the necessary confirmation to short at pattern completion.
Stop is set below the B point, as a close below would invalidate the pattern.
Trade safe, trade smart.
-K
Here on the EuroYen, we are seeing a reversal of a bearish trend .
Price has made higher highs, and higher lows, confirming my directional bias.
Topside projection of the ABCD pattern is the 2.618 expansion of the BC leg, due to the B retracement of 0.382 of the impulse leg.
Typically you are supposed to trade this from the topside down, but if you're an aggressive trader, this might be your trade.
After completion of the ABCD pattern, we have a valid short, as price has completed a Bearish Bat.
Bat confluence due to price action reacting to all necessary ratios, and the completion of the ABCD pattern, which is essential to all 5 Point harmonic patterns.
Before pulling the trigger in the PRZ, monitor price action for the necessary confirmation to short at pattern completion.
Stop is set below the B point, as a close below would invalidate the pattern.
Trade safe, trade smart.
-K
