TerryHarmonicTrading

EURJPY - Bat pattern at ED channel top to sell!

FX:EURJPY   Euro Fx/Japanese Yen
Hey guys, we have a great setup coming on EURJPY             .

Bat pattern to short at high of channel top.

EP: 115.60 - 65
SL: 116.50 (90)
TP: 112.90 (270)

Will be monitoring RSI divergence candlestick reversal patterns for signals before entry.

Harmonic trading success rate becomes much higher when you combine it with a simple ED channel.
Trade active: Went in at 115.65.

Stop loss is at 116.50.

Good luck all, be prepared to win as well lose, always keep your risk management in check.
Comment: Moved about 40 pips in my favor.

Will be holding this trade till next week.
Comment: Trade is running at +100 pips. Holding it on to 112.90. Anybody joined me on this?
Comment: Just shifted my stop loss to 115.65 to ensure a risk free trade now.
Comment: Time to update our stop loss to 115.20.

Locking in 40 pips of profits.

Targets still at 112.90.
Trade closed manually: Decide to take profits at 114.50.

+115 pips.
what do u mean by ED channel ?
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Similar question to ychilLL. What do you mean by an ED channel??
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I think Terry is referring to an equidistant channel.
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In at 115.71
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I am big fan of Sir Scott M Carney and your also. I have read harmonic trader , harmonic trading vol 1 and 2. i am using formationseeker also, please give me your best life experience about harmonic trading and i saw your nice pic with Sir Scott. Regards ruhail
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thanks for following me. Hope my ideas here can help you in your learning. :)
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please do analysis about gold oil and euro, pplz love to watch you. Sir Scott is also registered here?
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yes, will do some analysis in awhile. Either next few hours when I am home or tomorrow morning. :)
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RuhailKhan TerryHarmonicTrading
Ok thank you.
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RSI 7 close is suitable to 1 hour or 4 hours timeframes?
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I use rsi 14, same as sir scott.
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RuhailKhan TerryHarmonicTrading
Thank you sir.
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I waited a little, since I was on and got in at 116.123 with the same stop, so a little less risk.
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JeffKoski JeffKoski
Are you keeping the stop loss where it is, or have you moved to break-even?
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That's great. If u got in at the price u mentioned, u could protect it. I need it to breathe as I got in at a worse price, will only shift sl if it breaks new low again.
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JeffKoski TerryHarmonicTrading
The problem I usually have as a new trader is I move the stops too soon, or too tight, and stops me out and then takes off. lol
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Probably you lack a defined trading plan.

Big moves usually happen after a consolidation, moving stops too early can get u stopped out and miss out on profits.

Understand that price usually moves in a zigzag manner.

I use a 34 hi and low MA band to tell me when to shift my sl. If it does not break above this band, I do not shift my stops. If it breaks above, I will look to protect it.
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RuhailKhan JeffKoski
lol.
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RuhailKhan JeffKoski
JeffKoski dont remove stop loss lol
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really wonderful,
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Congrats. Goodnight everybody.
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RuhailKhan TerryHarmonicTrading
if you like give me your email i will share with you some stuff.
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mail me at terry@harmonicforex.com
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I am in this too, we must be careful for 114.117 area , however I hope to drop till the target.
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Great, have shifted stop loss to entry price to ensure a risk-free trade Now.

Good luck to all of us.
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EUR still weak, should have kept small position ?
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Maybe reshort when it bounces up again. Very strong range on both EURJPY and AUDJPY. Bank in some profits first.
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EYEO TerryHarmonicTrading
noted. Shall monitor on RSI and price action
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Should have kept it mate. Jp morgan just went short and going to 1.11. Anyway great work as always mate. Appreciate the idea and updates
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Thanks man, I just wanted to bank some profits this week. Probably will go short on it again once it bounces up above 115.
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asifrazzaq TerryHarmonicTrading
Or break if 114 on downside will open it up to 111
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TerryHarmonicTrading TerryHarmonicTrading
Waiting to reshort at a much better price if it comes back up.
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http://www.harmonicforex.com/wma/week41

Good weekend traders.

Check out my gameplan for next week!
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