EURUSD-Weekly Market Analysis-Nov19,Wk5

23 בנוב׳ 2019

Over the years in committing on providing analysis for the traders, I've start to make new friends even across the platform.

A kind soul has reminded me on this bullish bat setup on the 4-hourly chart while I shared my perspective of shorting the trade based on the 1-hourly chart on the bearish crab.

Having the knowledge of harmonic patterns and my baseline on trading on structure, I see is a high tenancy the market will fall off the cliff(Resistance) and I engaged only after the retest and confirmation made by my Harmonic Pattern Assistance(HPA).

It is really a test that the market gave me where I made profits and just before hitting my 1st target it bounces off again and it did it a couple of time.

So by having this, I must say understanding of the currency pair, as well as your system you use, are just as important.

I had also further extended my target to 1.1001 for my final target but will watch closely when it hit 1.1006 to check for any potential rebound.

After which I will observe the buy zone(blue rectangle) holds on to the market and create a bullish bat type2 trading opportunity as a countertrend trade.