NZDJPY - How to use ED channel to increase your winning %
Hey traders, I am sure many of you guys trade Harmonics here.
Just sharing a simple setup which I have used to increase my winning % in trading Harmonics.
I learned directly from Scott Carney and I am more than willing to share whatever he taught me.
1. Draw an ED channel in the H4 or higher setup.
2. If channel is sloping down, look for bearish harmonic patterns to sell near extreme of channel.
3. If channel is sloping up, look for bullish harmonic patterns to buy near extreme of channel.
4. Before execution, always watch out for RSI divergence at PRZ.
5. Limit use of pending orders to less than 20% of your total trades *** (Most important)
For this NZDJPY sell setup, it fulfilled all the items on my checklist for a good sell opportunity.
I will monitor RSI for divergence when it reaches my PRZ.
Most importantly, no patterns no trade!
EP: 75.25- 75.35
SL: 76.40 (115 pips)
TP: 73 (225 pips)
Also, take note that Cypher is not a authentic pattern from Scott Carney, stick with the Shark pattern at all times!
I will be more than willing to answer any questions you have as the Shark pattern is my #1 favorite pattern to trade!
Just sharing a simple setup which I have used to increase my winning % in trading Harmonics.
I learned directly from Scott Carney and I am more than willing to share whatever he taught me.
1. Draw an ED channel in the H4 or higher setup.
2. If channel is sloping down, look for bearish harmonic patterns to sell near extreme of channel.
3. If channel is sloping up, look for bullish harmonic patterns to buy near extreme of channel.
4. Before execution, always watch out for RSI divergence at PRZ.
5. Limit use of pending orders to less than 20% of your total trades *** (Most important)
For this NZDJPY sell setup, it fulfilled all the items on my checklist for a good sell opportunity.
I will monitor RSI for divergence when it reaches my PRZ.
Most importantly, no patterns no trade!
EP: 75.25- 75.35
SL: 76.40 (115 pips)
TP: 73 (225 pips)
Also, take note that Cypher is not a authentic pattern from Scott Carney, stick with the Shark pattern at all times!
I will be more than willing to answer any questions you have as the Shark pattern is my #1 favorite pattern to trade!
Comment:
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!
bit.ly/2g7akqo
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!
bit.ly/2g7akqo
Download report by clicking link below, no signups/login required.
www.harmonicforex.co...arket-outlook-report