TerryHarmonicTrading
Short

CHFJPY - Bearish Shark short just above Oct high

FX:CHFJPY   Swiss Franc/Japanese Yen
a month ago
Hey guys, just an update on CHFJPY             .

I am watching this bearish shark short just above Oct             high around 106.70- 107.80.

This is not the best kind of setup as I could not draw any ED channel on it.

However, I am predicting a false breakout on this pair where I can short with confidence.

These are the criterias I will monitor before entry

1. RSI divergence
2. Candlestick reversal at PRZ

Good trading guys, do not short too early.

Will keep you guys updated!
a month ago
Trade active: Got in at 106.70 yesterday. Currently running at +70 pips. Holding on to 104.60.
a month ago
Comment: Check out my gameplan for week 44 here

http://bit.ly/2fdrCyu
a month ago
Trade closed: stop reached: Hit SL - 70 pips.

Classic case of trying to be too greedy before a big news event.

From 100 pips profit to 70 pips loss, I learnt my lesson for November.

Reminder to self, always take some profits at the 38.2 retracement of the C-D leg.
Harmonic trader based in Singapore. Learned directly under the great Scott Carney. For FREE live trading webinars, trading resources and market analysis, please do visit my website at Harmonicforex.com
ChrisMark
a month ago
Hey Terry , thanks for sharing , enjoying your posts . That's my view of the pair . A Bearish Cypher
CHFJPY 4H Chart. bearish Cypher Pattern
Reply
TerryHarmonicTrading ChrisMark
a month ago
Hey Chris, thanks for the compliments. I work with Scott Carney quite closely. Cypher is not created by him and it lacks alot of elements that makes it a reliable setup. Highly suggest you trade more sharks instead, better R:R and higher success rate.
Reply
RuhailKhan TerryHarmonicTrading
a month ago
Sir Scott says Cypher is not a harmonic pattern. anyway Master Terry can explain well.
Reply
ChrisMark TerryHarmonicTrading
a month ago
Shark is working pretty good , however i got my first tp1 with the cypher
Reply
TerryHarmonicTrading ChrisMark
a month ago
Congrats, great that it worked for you. My overall success with shark is much higher, that is why I suggested trading more sharks.

If cypher works for u, keep trading it mate.
+1 Reply
AdrianUrban
a month ago
thanks !!! actualy 100Pips in profit :D thanks man ! ... BTW CHF/SGD swing short ?? thanks :)
Reply
TerryHarmonicTrading AdrianUrban
a month ago
Congrats. Will check Chfsgd out.
Reply
RuhailKhan
a month ago
Little Master Terry " one day will be Scott" please guide us the cause of failures of harmonic patterns? suddenly increase volume? or something else?
Reply
TerryHarmonicTrading RuhailKhan
a month ago
Any trading strategy will have failures.

Keys to success.

1. Overall winning %
2. Average risk to reward ratio
3. Risk management. Keep to to less than 2% max loss per trade.

Instead of hoping it does not happen, embrace it and keep on going.
Reply
GoldHunter
a month ago
is trade still active ?
Reply
TerryHarmonicTrading GoldHunter
a month ago
Yup, I am still in. If you are worried about the election, you can choose to close off and take a small loss.

My sl is at 107.40, keeping it there till I either hit SL or TP.
Reply
GoldHunter TerryHarmonicTrading
a month ago
I am keeping position too
Reply
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