Charts: EURUSD

One of the currency pairs that is mostly traded in Forex is the EURUSD. As I have said before, when I trade with Forex, I usually use Harmonics and Structural Trading, as I am more confident with my trades. Quite different with how I trade my stocks though, but still I get to have high probability trades and risk management.

Figure 1: EURUSD Chart

The chart is a BAT pattern, and it is quite a good pattern to trade as per my experience. Potential Reversal Zone is at 0.866 retracement of the XA leg. You can go long there and put a stop below 100% retracement. Though I do not trade it like this, as I always use to find confluence with Fibonacci's and structures, it is a great start for you to learn more about harmonics.

Also, for your information, I am using FXCM's Tradestation, but I like to draw in tradingview when it comes to harmonics.

CAVEAT!


Disclaimer: Trading is a risky thing and the post in this site are for educational purposes only. Equities and Forex Trading is speculative in nature and may harm every trader and investor by losing money. Thus, do not treat this post as a recommendation to BUY or SELL a stock or a currency pair. Blog contents are valid only on the date of publication and will be subject to change without notice. Thus, the reader is advised to take precaution, and is recommended to do their own studies before pressing the BUY and SELL buttons. I will not take any responsibility with the readers trading results.

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