TerryHarmonicTrading

EURUSD - Why I will not buy this Bat pattern!

FX:EURUSD   Euro Fx/U.S. Dollar
Hey traders, just sharing some experience I have trading harmonic patterns for 6 years now.

This is a example of a trade setup that I will not take.

We see a nice bat pattern completing around 1.10.

1. Nice round number
2. Great pattern

But no thanks!

I have learnt that taking trades only at the extremes of a H4 parallel channel increases my winning % dramatically.

For this setup, the channel is sloping down, it has not hit the extreme.

Even if this is gonna turn up, it is likely gonna be just a small reaction instead of a big reversal.

Be selective, trade well and I wish those who took this trade good luck!

I will short from the top.
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That's the right thinking. Can check out USDJPY right now too. We have a bullish shark at support.
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EYEO TerryHarmonicTrading
you are right but timeframe on week and day is still downtrend, i rather sell from the top.I shall wait.
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Thanks for that - I like your thinking
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thanks man. Just a simple trader sharing from experience.
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I have taken this pattern due to the 4H engulfing candle. Targeting the 1.1111 level. Will see how it plays out.
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good luck buddy and I wish you will hit your TP. I will wait for sell setups instead on EURUSD for this month.
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Thank u ! Amazing analysis
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thanks for following me. Where are you from?
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GoldHunter TerryHarmonicTrading
ireland , and thanks for sharing your ideas with us
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Hey don't mention. Wish you a great weekend ahead!
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Thanks for sharing. Very good piece of information.
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Thank you for your compliments, where are you from?
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Turned up last night, as you said it was a small reaction. Let's wait for a signal for sell setup.
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A double test of 1.1 we can could see a bigger bounce on this pair. However I am still patiently waiting for sell setups to complete.
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http://www.harmonicforex.com/wma/week41

Good weekend traders.

Check out my gameplan for next week!
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Thanks for sharing your expirience
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Hi Terry

How does the harmonic patterns behave during news action, do you trade if there is a news coming out like for example the NFP Report every first Friday of the month for the USD? I am asking cos I was very surprised on the EURUSD on the 20th of this month when I did an analysis but did not took much attention to it now I am reviewing my weekly analysis and I saw that the EURUSD reached a PRZ zone end retraced during the news see chart below. I just want to know from an experience trader like you if this happens often or if it was just a one-of.

snapshot

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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
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Download now! –> Terry’s Week 43 Forex Market Outlook Report

http://www.harmonicforex.com/terrys-weekly-forex-market-report/week43report
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