EURO: Combining EW With Harmonics - Triangle Breakout

Oct 6, 2016

Hey traders! Looks as though the complex correction is complete for this pair. We have a bullish impulse that followed which points to wave count confirmation, but not until the fifth wave completes. I want to trade this fifth wave after the triangle completes. At the schedule completion of the triangle, a potential bullish Gartley has formed a potential reversal zone. In addition to a high probability breakout, we also get a nice risk to reward ratio out of it. It is smart to wait for bullish confirmation and pullback.

PS: Video support for analysis coming soon! This complex correction is a good candidate for explanation.

Cheers!

Oct 6, 2016

Trade active

This one is CAUTIOUSLY active. The triangle is not ideal but I don't see any reason not to trade it with the bat pattern. If I see any signs of corrective structure, even in a rally, I will close manually. If we see a bullish impulse I'm in until target.

Oct 6, 2016

Trade closed: stop reached

Entered SHORT on the USD via USDCAD after this one. We're already set to B/E on that trade. Check it out below:

Oct 6, 2016

Note