TerryHarmonicTrading
Short

CADCHF - Look out for this before selling!

FX:CADCHF   Canadian Dollar/Swiss Franc
Hey guys, am watching CADCHF             closely for the next few hours.

I see a bearish shark completing at the extreme of a daily down-sloping ED channel.

This is a perfect setup for me.

Next, I will monitor some form of RSI divergence upon retest/rejection of 0.7570-0.76 before executing my short.

Trade will be invalidated if price just break above this zone convincingly.

If this trade gets executed, this will be the ideal levels.

EP: 0.7570
SL: 0.7630
TP: 0.7350
Comment: This is the reason why pending orders are not recommended!

Right now we are at this PRZ zone.

We have to watch over the next few hours if price will reject $0.76 and fall below the PRZ.

That is when I will enter my short.

Else this is a PRZ breakout move and it is gonna have a huge move upwards.
Comment: Very nice, we have a false breakout yesterday.

Have put in a pending order to short at $0.7570.
Comment: Sorry, this is the correct link.

snapshot
Comment: Hey guys, for those of you who are interested how I trade, I prepared a report on how I will trade in Week 42.

Download report by clicking link below, no signups/login required.

https://www.harmonicforex.com/terrys-weekly-forex-market-report/download-now-terrys-week-42-forex-market-outlook-report
Comment: This week's market outlook is out!
Had a chat with my mentor Scott(Scott Carney) yesterday, we spoke about how we view the various markets.
I will share about what he revealed to me about the S&P index in this week's report.

Download report at absolutely no cost today!
http://bit.ly/2g7akqo
nice techniques. followed.
Reply
Also if price moves down & touches your projected 1st TP zone (Fib 5) will you still consider a pending order at 0.757?
Reply
It depends. For this setup, even if it hits tp1, it is still at a good lvl relative to the h4 channel. I could still go short.

Some setups, tp 1 is already at bottom, so no shorting unless there is new pattern completing.
Reply
Terry bro, great anaylsis.
I went in on the 1st test at 0.755. the 2nd test forming the ''head'' gave me a real scare. Almoost stopped out.

You always mention divergence. does it means:

Trading in H4 chart, you look for divergence in H1? RSI goes OB on 1st test & RSI for 2nd test is lower than that of 1st..?
Reply
Execution tf is h1. So u wait for the bar to complete forming. Check for divergence only after h1 candle is complete.
Reply
junming1985 TerryHarmonicTrading
Understand. Divergence can happen in H4 even thou execution TF is H1 right bro?

Reply
yup
Reply
https://www.tradingview.com/chart/SZUXCiPL/

Updates @ 20/10/2016!
+1 Reply
Hi Terry,

Taking this trade with you lets see how it goes :) Good Luck everyone
Reply
Hi Terry,
I think your R&R should have been Short not long ?
Reply
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out