In Harmonic Trading articles we look for currency pairs harmonic patterns on M30 – H4 time frames. You need to remember, that formation alone is not sufficient to start a trade so it is advised also to look for:
- Moves that overlaps with main trend
- Risk-reward ratio 3:1 or higher
- Every D point of the pattern should be drawn in a shape of Price Action candle or confirm the current direction.
Today we can spot downward CRAB on EURGBP. It is the most interesting pattern I could find today, but there is no way to open position because it is to far. There was no second test of point D of formation and now it is possible that there will be move back and then downwards. It is good to open short position at fibo 161,8% and SL above the shadow it breached.
