I spent the last holiday period upgrading my knowledge on cryto coins. I realize that through backtesting, Harmonics seems to work quite effectively on them. I signed up with a broker which allows trading of crypto coins up to 10x leverage. My plan is to go long on them upon completion of authentic harmonic patterns. The 1st trade I entered is on RIPPLE/USD...
Hi guys, I am finally back to trading. Had a great 2 week rest to travel around and have some fun. 1 trade of 2018, I am looking to buy EURUSD off this bullish gartley. EP 1.2010-1.2020 SL 1.1980 (30) TP 1.21 (90) Wishing all of you a great trading year ahead, I will be sharing all my quality harmonic ideas as usual.
Next week, I will be looking to long USDJPY if it reaches the shark prz zone at 110.80/90. Volume should increase significantly before it reaches this zone. Upon a candlestick reversal at this zone, I will be looking to go long. EP 110.80/90 SL: 110.20 (70) TP 113 (210)
Market has shown where it wants to go for now. I expect deeper retracement on EURUSD towards 1.1560. This is where the bullish shark pattern will complete. Staying bearish on EURUSD until this level is tested. Shorter term traders can consider shorting it until 1.1560.
It's a brand new week! Looking for opportunities to long GBPUSD early week around 1.3350/1.3360. Look for a bounce off the lows of this channel and target 1.36. Volume should dry up as it approaches the low of the channel. Will update you guys when I get in.
GBPUSD should continue to correct in the next 1-2 weeks. I will be interested to go long on it once it hits 1.3250. This is a great level to wait for as it is a PRZ level of the Harmonic Bat pattern. For a high probability trade, you should notice abnormally high volume coming in when it gets close to the PRZ. Tentatively, these are my desired levels. EP...
Next 2 weeks, do keep a closer look on USDCHF. It will complete a bearish shark at 0.9970. If this pattern turns out successful, we can see USDCHF challenge 0.96 towards Q1 2018. It all depends on the market reaction when it reaches the PRZ zone at 0.9970.
Watch out for this bearish shark completion on GBPNZD next week. The zone is between 1.9780 to 1.98. I hope to see unusual volume coming in before it reaches the PRZ. Easily a 1:2 risk to reward setup. No reaction no trade, do not use pending orders.
USDCAD has completed a Shark pattern last week. It bounced off the PRZ and is now coming back down to the zone. This could be a type 2 entry. My guess is CAD and commodities in general will continue to weaken this week. Do wait for a price reaction at the PRZ zone before entry. It could be a ride back to 1.28 for USDCAD. I will also use the volume indicator...
This week, I will not be surprised to see EURUSD correct towards 1.1770. This is the PRZ of the gartley pattern. At this PRZ zone, I will look at the volume indicator to give me clues on whether to enter. Preferably, I will want to see a ultra high vol before it hits the PRZ. Entry will be a strong green candle after the PRZ is fully tested. EP: 1.1770 SL...
GBPCAD has been trending along this channel for about 2 months. I will expect price to continue respecting this channel in Dec. Will watch out for vol drying up when it gets closer to the lower extreme of the channel this or next week. This can be a low probability buy off the lows. Huge SL and TP potential, do size your trades properly. EP 1.6890 SL 1.6550...
USDCHF is weak. Distribution has been ongoing for the past 2 weeks. However, early next week is not a great time to chase the shorts. A good way to get into this trade is to wait for a pullback into the upper boundaries of this H4 channel before going short. That will improve your R:R and psychology tremendously. Will keep you guys post if it gets close...
My view remains consistent. USD will continue to be weak towards end of 2017. This USDJPY brought me lots of agony 2 weeks back where I tried to short it twice but I got in too early. I have since learnt to adopt a wider stop for my trades. I do not need to keep my stop losses so tight since my winning trades are all in excess of 200 pips. Going forward to...
AUDUSD has retraced a little from the lows of last week. I expect it to retest 0.76. 0.76 is a great level that I am looking to go short. This is the PRZ of a harmonic shark pattern. Will be watching for nice pinbars and abnormal volume activity at this level before I go short. Will be looking at 0.753 and 0.7420 for targets due to the bigger shark pattern in...
NZD got sold off rapidly last week due to some fundamental news. As traders, I enjoy not knowing what the news is and trust my system despite the chaos in the markets. I see a potential bottom picking for NZDCAD around 0.8650. As per my usual tradin style, no pending orders. I will monitor the volume indicator after price touches the PRZ before deciding if I...
The way EURUSD is rising, I highly doubt it will turn at 1.18 as per my view few days back. It has also broken the H4 channel. I will be waiting for potential shorts when it completes the shark pattern close to 1.21. Let's be patient and ride our profits on GBPUSD and CADCHF.
Next week, I am expecting GBPCAD to continue climbing towards 1.71. This 1.71 is a great harmonic area for price to potentially reverse. Alot has to depend on the price reaction at this zone. I will be monitoring the volume indicator for abnormal volume conditions based on VSA before I take my trade. No pending orders will be used. Tentatively, these are my...
I expect AUDUSD to continue weakening next week. My area of interest(PRZ) is around 0.74 - 0.7420 where it will complete the bullish shark pattern. Before hitting the 0.74 zone, I might short on any good looking upthrust and ride it all the way to the PRZ. This are my tentative levels. I will watch for reaction before entry. No pending orders will be used. EP:...