Would expect to see an abc correction after the break of structure. :)
Stop behind red box.
If the price retraces back up to my 1.618 fib line (Cpoint on the ABCD pattern) I will short and trade it using the same rr strategy to lock in profits at each TP hit. Move chart down to see TP or zoom out :D
Love my harmonics. Closed half my position and moved stop to buy point to lock in profits :D
#ThatsWhatSheSaid Just entered a full short pos in EU
Double top I highlighted in purpleWaiting for price to hit .618 line on my fib retracement off the last bearish impulse leg. Marked off relevant s/r with the orange dotted lines. Also if you look closely at the rsi and 14/3/3 stoch you will see the start of bearish divergence, which tends to show itself first on the 14/3/3 stoch. Also starting to see nice big red...
On this chart I see a big bearish vol spike, divergence in RSI and 60/10/10 stoch, cypher finishing. Wedges almost always break out when the wedge is about 60-70% complete from the start of the wedge to where the lines come together to meet, as you can see thats where we are here!. It is also hitting the .5 line on the fib extension which is a great reversal...
Looking like a good trade! Bearish Divergence in the STOCH.
EUR possible Head and Shoulders Setup
Added a pitch fork and did a little more work on the shorter time frames to try and get a better idea on how the price action while move, while setting up for they expected drop. :)
I would wait for GN to bounce back up to 2.428, and I would make a small entry short pos. I would put my stop above they 0 fib line and then if the price makes a solid bounce off of they 2.428 pivot point and shows a nice reversal candle, I will get into a full short pos.... I would expect it to fall to about they .5 fib line..
This is the same chart as the last one I posted. I just made aa slight adjustment to they xabcd pattern to clean it up :)