DislikedI am not sure what kind of harmonic pattern that is. Perhaps you are seeing it as such because you have 3 long positions underwater and you are "Hoping" it is a bullish pattern.Ignored
It's a variation of the "222" Gartley bullish pattern, as described in Larry Pesavento's "Trade What Yo See". The only difference is that in this chart the second high is higher than the first one. In the initial pattern, the second high must be lower than the first one. I still consider it valid because the second high, in this chart, was generated by sentiment (I'm pretty sure it was the IMF news that it will support France, but not Italy, etc), the increase would have been lower without that.
As for the "hope" part, I may open up a separate thread on that, or on the entire psychology behind speculative trading, which is entirely built on some type of "hope", but I will just say it's not about that. I'm not biased towards EUR, not bearish, nor bullish, I just want to make some pips by following its moves. And that's what I see, I may be right or I may be wrong. Have no idea, but I trust myself enough to put my money where my mouth is. Sometimes you win, sometimes you learn
As for being underwater, we all are at some point. If it goes over my money management rules, I will close. This is what I did with my shorts yesterday, the trades were over my acceptable loss level, so I closed. Guess what? The TP level, 1.3880 was reached today Ain't life funny sometimes?