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EURUSD Harmonic Trade Setup H4 Chart EUUS230601
EURUSD Harmonic Trade Setup H4 Chart EUUS230601
Pattern /Reason: Bearish Total 1 & Bearish Total 2 Pattern
Time Frame: H4
Accuracy of the Pattern: 64%
Setup No: EUUS230601
Recommended Lot: 0.20
Trade Period: Intraday / Medium-term
Active/Pending: Pending
Trade: Short
Entry: 1.14080 – 1.14260
Stop Loss: Below X 1.14600
TP1: 1.136000 / Reached
TP2: 1.132000 / Reached
TP 3: 1.129000
Divergence/ Convergence Confirmation: Not Yet – Will be updated.
Candle Pattern Confirmation: Engulfing / Harami
Moving Average Confirmation: Nothing Particular
The trend of the Timeframe: Bullish
The trend in the Daily Chart: Bullish
Update: TP1 Reached. You can book partial profit and move SL to entry.
Update:
Double Top completed on H4. Add short at the retest of the neckline.
Notes:
- Since the pattern is emerging on the H4, targets and stop loss of the pattern is not tight. You can wait for my entry notification for this trade. Setup No: EUUS160601
- Entry notification will be sent as soon as we get divergence and/or candle pattern confirmation. This would increase the accuracy of the setup. However, the trade can be executed without confirmation.
Warning and Things to Pay Attention:
- Harmonic Patterns are reversal patterns and mostly against the main trend on the chart they appear.
- Target levels are determined by MM Calculation as the pattern has not been completed yet. They may vary 3-5 pips according to the completion level of the predicted patterns.
- Pay attention to Time Frame, Trade Period and Estimated Completion Time, Accuracy and Recommended Lot Size clauses mentioned below.
- Do not risk more than 2% in one trade setup.
- We usually book partial profit at the first target and move our stop loss to entry or break-even level. Use your own risk/profit management to exit the trade.
- We are publishing potential opportunities. There are no certainties and traders bets on possibilities. Read the setup carefully before entering a trade and take your own decision.
