ABCD Harmonic Patter Confirmed - Short Entry
NZDUSDABCD Harmonic Pattern confirmed!
Considering Fibonacci from points A to B, the price correction from points B to C got to the Fibonacci Level 0.78.
As far as I know, this will make a lot of people to disregard this chart pattern, however, after making an investigation there are also a lot of people saying as long as the price doesn't close after the Fibo level 0.78 the pattern goes (I agreed with this idea).
At this point in the 1H chart, the price is changing direction which is giving us a good opportunity to go short!. My first target point is the zone 0.65600 which is the zero and point one of a few Fibonacci; this point will give me more than 250 pips.
My second and final target is the area of 0.65375, which will give me (if everything goes right) another 325 pips.
My entry point was at 0.65846 and the stop loss was located at 0.65995
Feedback and comments about this analysis and trade idea are more than welcome!
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