Here we have a correction trend that has a double Harmonic Pattern Formation and the downtrend line waiting to be tested by the price again, so these points gives to us a clear picture of what’s going to happen with the Swiss Franc in the next hours.
And something you have to understand here due to these two formations I have to join both the PRZ of the Patterns so I transform it into just one, cuz they’re practically in the same place and that gives a unique place where the price can reverse.
So that been said let’s check the rules for this edge:
1. Harmonic Pattern Completion ( Bearish Gartley@0.786XA & Butterfly@1.272) – Waiting;
2. PRZ Hit – Waiting;
3. PRZ Test – Waiting;
4. Resistance Zone Test – Waiting;
5. Downtrend Test – Waiting;
6. Candlestick Reversal Sign – Waiting;
7. Candlestick Confirmation Sign – Waiting
8. Risk Management – Applied;
9. Risk / Reward – 1/3.
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Be proud of yourself every step you take toward reaching that goal”
Pips Hunters Forex