Harmonic Pattern and Excessive Momentum
Here we show that how Excessive Momentum and Harmonic Pattern was coincided to confirm the same bullish entry.
Firstly, I put Excessive momentum indicator. It gives me that potential reversal area around 1.272 (127.2% retracement level). Remember what I said about Excessive Momentum ? When you or indicator detect Excessive momentum, you have to pay a particular attention.
Next, Harmonic Pattern also confirms the entry at the similar point as the Excessive momentum does. This is good confirmation together for the same bullish entry.
Of course, next watch point is the first Potential Continuation Zone for EURUSD at 1.0997.
Please Note that it is not the Fibonacci Retracement you are looking at there. You are looking at Excessive momentum first and then you are confirming your entry with Fibonacci Retracement. Excessive Momentum give you clue about where you need to use Fibonacci Retracment entry.
The detection of Excessive momentum is done automatically in the Excessive Momentum Indicator. In addition, if you are volume spread analyst, Excessive Momentum can be good supplementary for your trading too.
Here is link to Excessive Momentum Indicator.