here is a AB=CD pattern that has bullish sentiment. the "C" point is a 786 retracement of the AB. so as outlined in Scott Carney's book Harmonic Trading VOL 1 the 786 uses a BC projection of the 1.27, and the pattern completes the ABC extension beautifully with maybe a pip or less under the BC projection. Because this is a counter trend trade I am aiming for only 30% of the retracement and having stops set between the 1.13 and 1.27
Lets see what happens!
Lets see what happens!