EUR/USD Harmonic BD Trade Setup

EUR/USD Harmonic BD Trade Setup

Pattern: Harmonic Pattern
Timeframe: 4-Hour Chart (H4)
Entry Levels:
Bullish Scenario: Above 1.05214 for a potential upward breakout.
Bearish Scenario: Below 1.03670 for a potential downward breakout.
Target Levels:
Bullish Target: 1.06300 (first target) and beyond based on further price action.
Bearish Target: 1.03069 (first target) and below based on further price action.
Key Zones:
PRZ (Potential Reversal Zone): Highlighted by the purple lines, indicating areas where the price might reverse or continue strongly in the given direction.
Description: This harmonic BD pattern highlights a critical decision zone for EUR/USD. Traders should watch for a breakout or reversal near the identified PRZ levels. The green arrow suggests a bullish breakout possibility, while the red arrow indicates a bearish continuation.
Risk Management:
For long positions: Place stop-loss below 1.05100.
For short positions: Place stop-loss above 1.03700.