EURUSD Short: Cypher + Crab + S/R

29 Des 2015

EURUSD is nearing the completion of a highly confluent bearish PRZ. The projections and retracements of two harmonic patterns coincide in a tight area of resistance which falls in a broad area of S/R. Entry is placed at .786CD with SL at 1.13XA and target at .382CD.

Confluence in the PRZ:

• Bearish Cypher
  
• 1.618BC Projection (Cypher)
  
• 2.272AB=CD (Cypher)
  
• Bearish Crab
  
• 4.5BC Projection (Crab)
  
• 1.5AB=CD (Crab)