EURUSD Harmonics – $1.17200 Bat Entry Levels Still Open

by Sep 25, 2021Setups

EURUSD Harmonic Pattern Forecast

Week ended with the price above $1.17200 strong support horizontal level and it is still inside the Bat pattern potential reversal zone.

What you see here is the price had a hard time defining the direction. Week started with small indecision candles  and on Wednesday the price broke below, but the break did not last for too long.

EURUSD Harmonics_25_09_2021_Bat

On the next day the price returned back above the horizontal support line where you have a strong bullish engulfing candle.

If you compare bullish engulfing candles with the rest of bearish candles you can see size and formation points the buyers are stronger.

With this new bullish signal on the support level Bat pattern entry area gives me more confidence. But, I am still cautious because the price is in the middle of a downtrend channel and I would like to have more confirmation signals for the bullish move.

The profit targets of the Bat pattern are ok and the first one is close to the downtrend resistance line. From the current price that is 60 pips which is a nice number and that goal is more likely the price will reach next week.

From there the price could find resistance which could activate sellers and return the price down.

If we take a look at the previous bullish moves we can see the price reached $1.18000 which could be the target for this bullish move. From that price we could see the market turning again down to $1.17200.

If you want entry and profit target levels, register with powerful harmonic scanner.

Get notification on the telegram when trading idea appears so you do not miss trading opportunity.

Powerful harmonic scanner

“Disclosure: Some of the links in this post are “affiliate links.” This means if you click on the link and purchase the item, I will receive an affiliate commission. This does not cost you anything extra on the usual cost of the product, and may sometimes cost less as I have some affiliate discounts in place I can offer you”

Harmonic Patterns Cheat Sheet

All Harmonic Patterns on one place with important tips for trading.

Harmonic Education

Main Trading Guide

1. Harmonic Patterns in Forex
2. Harmonic Scanner
3. Trading Harmonic Patterns
4. Harmonic Pattern Success Rate

0 Comments

Disclaimer: Any Advice or information on this website is General Advice Only – It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By Viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by Harmonics.app, it’s employees, directors or fellow members. Futures, options, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures, spot Forex, CFD’s, options or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in Forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.

Privacy Preference Center