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Harmonicforex

Thoughts on EURAUDI think I would take definitely the sell if it gives me the retest and show me bearish candlesticks. There's an M pattern that in theory is developing. In case it doesn't retest and go bearish from this point, I could have a bullish opportunity because of the bat pattern. So we have different scenarios: 1. If it gives the retest at 1.50236, we can take a bearish position and expect the price to hit TP1 at 1.49255 primarly and if it continues we expect it to go to the TP2 at 1.48424. 2. If it gives the retest at 1.50236 we can go bearish until 1.49255, but if it also gives retest at the TP1 1.49255 we can go bullish until 1.50050. 3. If it goes bearish form this point and restest at 1.49255 we can go bullish until 1.50050. 4. If it doesn't respect anything and doesn't give any candlesticks pattern that any potential price could be retested, just discard everything and don't enter any position. I strongly recommend to wait for candlesticks before entering any position on EURAUD. Being said this, at the moment we wait.
by pinoso
THoughts on AUDUSD (Bearish possibility)After a bullish market, I think we can have a bearish position right in the pullback. We have a harmonic set-up. There's a PRZ as a shark pattern entry 1 at the 0.886 that coincides with the 1.618 of the BC projection. If we look at the market where it is now at lower frames we can see an AB=CD pattern with 0.50 retracement and 2.00 projection exactly at the zone of the shark pattern entry zone. If we see price action, the previous resistance was retested as a support and the expected projection would be near the PRZ spotted. I think there's a lot of coincidences. So I believe that zone would be potential for a short position. We just have to wait for the market confirmation to go to the zone and expect a candlestick pattern or at least indecision candles.
Short
by pinoso