This is more of an overview than a signal and since the completion of this movement can take up to 2 months or more the fundamentals have been left out, but, as you can see for starters there is an abcd pattern that is trying to complete coupled up with a harmonic pattern. The ratios for the harmonics also aline with the Fibonacci retracements, which have been drawn on multiple times to ensure accuracy from different points. To test if the fib zones are correct or relevant you can look at the historical data to see if the areas of confluence respect the fibbo lines. If you decide to take this trade or series of trades depending or your trading style and account size, be aware that you should watch your risk management and keep looking at the economic calendar, as this can help aid in your exit points because entry points are not the real area that you make your money in trading....
Happy trading guys!
Happy trading guys!
Trade active:
forgot to mention, just follow the arrows, this is just within a larger trade that I took a while back but I'm locked into the trade so I closed some positions so I could maximise my profits from the predicted counter trend trades, and use my fib zones to make your own take profits and stop losses....