Euro/USD - Likely Bearish Reversal AB=CD Harmonic Pattern
On 4h scale, Bearish reversal AB=CD Harmonic pattern has been drawn. Once the trend enters Potentially Reversable Zone (PRZ) and if RSI bearish divergence is also present then it will indicate a Bearish reversal.
Also note that vale of C point retracement is 0.706 which is close to ideal 0.707 that corresponds to BC Projection of 1.41. Accordingly Point D has been placed.
Now if divergence is observed then on establishing Bearish reversal pattern by seeing LH and LL, one should enter the trade.
Also note that vale of C point retracement is 0.706 which is close to ideal 0.707 that corresponds to BC Projection of 1.41. Accordingly Point D has been placed.
Now if divergence is observed then on establishing Bearish reversal pattern by seeing LH and LL, one should enter the trade.