We had this alert this morning on NZDJPY:

NZDJPY Harmonic Pattern Alert

The chart is below , notice how the lack or price action to the upside and the price not bouncing out of the support area was telling to not trade this pattern

NZDJPY Harmonic Pattern

If we had taken this trade we would have been stopped out as it has now broken below and out the other side of the reversal zone.

When trading Harmonic patterns you have to be aware of when to stay out. Even though a pattern might look nice ,other factors have to be taken into account.