This time im updating the chart on EURJPY.
As you can see I spotted 3 potential harmonic patterns in the making on this particular pair.
If you take a look at how price reacted to the completion point in the Gartley 886, you can clearly see the rejection and how sellers immediately took control of the market.
Besides that, last week closing price took out the median regression trend line and closed below.
I am expecting a significant drop, with a minimum profit target of the 38% XA retracement at 120.5xx, but could go all the way towards 62% XA retracement at 118.7xx
The best entry would imho happen to be be right now, around 121.3xx.
Thank you for reading the analysis
Dont forget to like the chart and make sure you leave any comments in the section below
I appreciate all support, thank you so much & please keep it coming my way!
Happy trading and God bless
As you can see I spotted 3 potential harmonic patterns in the making on this particular pair.
If you take a look at how price reacted to the completion point in the Gartley 886, you can clearly see the rejection and how sellers immediately took control of the market.
Besides that, last week closing price took out the median regression trend line and closed below.
I am expecting a significant drop, with a minimum profit target of the 38% XA retracement at 120.5xx, but could go all the way towards 62% XA retracement at 118.7xx
The best entry would imho happen to be be right now, around 121.3xx.
Thank you for reading the analysis
Dont forget to like the chart and make sure you leave any comments in the section below
I appreciate all support, thank you so much & please keep it coming my way!
Happy trading and God bless
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Harmonic bat
MikulovicFOREX
about EURJPY