FX:USDCHF   U.S. Dollar/Swiss Franc
This serves as an update to my earlier post (see link below).

The bearish bat pattern was completed on 1 Sep. The following day, a bearish pin bar was formed.

See chart for entry, stop loss and targets. To move SL to BE if price hits 0.9116 (1R).

Target 1: 0.9010 (Close half position. Then move SL for the other half position to 0.9116)
Target 2: 0.8897

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Can i know how to i pick a good point to entry at D ? Normally when i see a pattern , It is hard for me when to decide to enter , sometimes , it fly above D point and reverse and sometimes , it reverse slightly below D point and i could not get filed. Thanks for the opinion.
Casey_Yeo low.wf.5
Hi! First, I'm not an expert in harmonic trading. I'm still learning to master harmonic trading. So don't entirely take my words for it. From what I have learned so far especially from Akil and Jason, these are the few ways:
a) price action when D completed. You may look at lower timeframes for price action, e.g. HH/HL or LH/LL, double top (if shorting), double bottom (if buying), pin bar, or other candlesticks patterns. I will also consider the price action on the chart the pattern was formed.
b) limit orders at point D. This is more aggressive and more suitable for advanced traders.
c) wait for price to cover the whole of PRZ before reversing out of the zone.
Of course, there are pros and cons for any entry methods (and exits). You have to ask yourself what you are comfortable with and trade those methods.
Again, I'm not an expert.
+2 Reply
MinervaFX Casey_Yeo
I'm always looking at the price action on lower time frames and it helps me to get a better entry point/price. If you are trading futures currencies you can use ladder/market depth to see supply-demand and scalp it (sort of...)
low.wf.5 MinervaFX
Thanks Milos. Do u mean looking at RSI ?
MinervaFX low.wf.5
Yes, RSI and also support/resistance levels. After some time practicing it you will spot reversals and you will be able to determine the best price to enter a trade.
low.wf.5 Casey_Yeo
Hello , Casey , thanks for the opinion. I am using some of the method as well. Thanks for the confirmation. Btw , can i know what is PRZ ? Glad to discuss with you regarding this. Haha
Casey_Yeo low.wf.5
PRZ= potential reversal zone. Potential D completion point is actually a zone. This is determined by using fib and fib ext.
analysis explosed and closed by loss
Casey_Yeo samed.karsanbas
Yes it did. Not surprising.
usdchf is so weird currency specially swish economic calender making so many suprize and hard to follow news from swish economic calendar
Casey_Yeo samed.karsanbas
I don't trade news. So I have no idea how hard it is to follow the economic calendar. If you find it hard, then just don't touch this pair. :)
im not talkin about u tryin trading news. what am tryin to say is technic analysis nothing without fundemantal analysis and I have experience like this things many many times. and this pair "usdchf" news very important to make price is way especially from swishh news. im sharing my experince on this pair and i just want to let know who came here and loking to ur analysis.. if u want to get enter position first thing is folllow chf(swishh) economic news and make ur technic analysis with fundemantal analysis otherwise analysis can be explosed with huge loss like this this analysis :)
Casey_Yeo samed.karsanbas
You are entitled to have your own style of trading. There are many ways to trade the market - fundamental only, technical only, fundamental + technical. Even within these categories, there are many varied ways. I'm comfortable trading using technical analysis with an almost naked chart. I must admit I'm wrong more than I'm right. But most importantly, my overall result is positive. By the way, there is no huge loss for this trade as I'm disciplined enough to use proper position sizing. The other thing is that I never encourage anyone who look at my analysis to trade my ideas as every individual has their own personality and should only trade a system that fits them. Hope that I made myself clear enough here. :)
+1 Reply
tank you for ur kind and answer Casey .
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