Euro / Pound has a very gorgeous butterfly pattern that completed. PA is in the PRZ and you could expect to see some movement when the Asian Session is in full swing. the black line represents the rarely mentioned 618 butterfly mentioned in Scott Carney's Harmonic Trader Book. That book is his very first book, not to be confused with the Harmonic Trading Volume 1. He mentions that is good practice to plot both the 127 butterfly and the 1618 butterfly. now i am not part of his gold membership to say if this is a discontinued practice, but i still see failed 127 butterflies reverse at the 1618 xa projection more frequently than not. if there are any gold memebers from the HarmonicTrader website please let me know the status of the 618 butterfly.
wait for the reversal pattern for the T1 setup and the retest for the reversal setup.
#RiskFreeOrBust
EURGBP
wait for the reversal pattern for the T1 setup and the retest for the reversal setup.
#RiskFreeOrBust
EURGBP
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keep waiting. since there are 2 major resistance levels, the two white dotted lines and the pink dotted line, they might act as a magnet and pull price to them. if this is the case get your orders ready for the drop!!! it will be fast!!!
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so right now we are waiting on the reversal pattern. right now we have a strong bullish candle reaching for the 1618 butterfly. but the longer the wick better the signal! the signal will be strong if the candle closes as a doji or bearish candle.
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i recieved my evening star reversal pattern near the top of structure and right off the Harmoinc Optimal Price with a beautiful rejection of the significant 88 and 27 swing point. I am aiming for TP2
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