I do consider this pattern as a correction of the trend and that same pattern it gives us a clear view about a possible impulsive downtrend coming soon with the Bat pattern, I believe after the price test the entire PRZ the price it's going to lose is strength and start a rally to the downside because we also have a resistance level which is in the same area of a potential reversal zone.
The probabilities are good, we just have to wait to have all the requirements of a clear reversal fulfilled to short this pair.
Rules:
1. Harmonic Pattern Completion (Terminal Bar) - Waiting;
2. PRZ Hit - Waiting;
3. PRZ Test -Waiting;
4. RSI Reversal Sign - Waiting;
5. Candlestick Reversal Sign - Waiting;
6. Candlestick Confirmation Sign - Waiting;
7. Risk / Reward - 1/3;
8. Risk Management - Applied;
" I'm not yet who I want to be, but
thank God, I'm no longer who I was before! "
Unknown
The probabilities are good, we just have to wait to have all the requirements of a clear reversal fulfilled to short this pair.
Rules:
1. Harmonic Pattern Completion (Terminal Bar) - Waiting;
2. PRZ Hit - Waiting;
3. PRZ Test -Waiting;
4. RSI Reversal Sign - Waiting;
5. Candlestick Reversal Sign - Waiting;
6. Candlestick Confirmation Sign - Waiting;
7. Risk / Reward - 1/3;
8. Risk Management - Applied;
" I'm not yet who I want to be, but
thank God, I'm no longer who I was before! "
Unknown