This is also known as a RSI BAMM harmonic breakout trade, where price breaking the B point of a Bat pattern will magnetically move the price towards point D at XA 88.6. This strategy is documented in Harmonic Trading Volume 2 written by Scott Carney. Note that for this kind of trade setups , the R:R is not fantastic, usually just 1:1 or slightly below it...
Hey guys, happy weekends. Just browsing around for high probability setups today. I saw something interesting in EURUSD and I would like to share this setup with you guys. Pattern Identification This is a RSI BAMM setup with a POTENTIAL buy around last week's low at 1.0567. How to execute this trade? I will wait for 1.0567 and the RSI OS level to be...
Hey guys, I'm sure many of you heard about the United Airlines incident which is all over the media. I had some time to spare today and I decided to check out the charts of the company. This is my observation Pattern Identification Bearish shark completes at $75. If one were to trade UAL based purely on harmonic patterns. EP: $75 SL: $83 TP1: $57 TP2:...
Hey guys, this is a great potential long on NZDUSD. Pattern Identification Bullish Bat at 0.6913. Trade Execution EP: 0.6913 SL: 0.6870 (43) TP1: 0.6980 (67) TP2: 0.7020 (107) Will only go long when price rejects the entry level at 0.6913. No reaction at this zone = no trade This pattern will be invalidated if price goes below 0.6870 or goes above 0.7090.
Hey guys, this is a long on EURJPY. Bullish shark, stopping volume at support. To be safer, wait for green candle close at 10pm before going in. EP 117.70 SL 117.10 (60) TP 119.20 (150) Will talk more about it during my weekend video. Gonna enjoy my weekends for now.
Hey guys, CHFJPY has an interesting setup. Pattern Identification CHFJPY 0.07% completes bullish shark at 110.87, this is the XC 113 and BC 1618 zone. Trade Execution Price tried to close below the PRZ but failed to close below it on the h1 timeframe. I will be monitoring for above average volume on a green candle close in the next few hours to go...
Hey traders, I am preparing myself for my webinar tonight. This is what I see on AUDJPY Pattern Identification AUDJPY will complete bearish shark at 87.45. Trade Execution I will wait for a reaction at 87.45 before going short. The reaction is typically a pinbar candlestick or an engulfing candlestick pattern. Close to the reversal zone, I hope to see a...
This setup is pretty correlated with my analysis on USDJPY. Pattern Identification Bearish Shark completes around 84.63. Drawing in my strong S/R zone, I will not be surprised to see it going slight higher to 84.80. This will be my zone of interest Trade Execution I hope to see a nice rejection around the zone I mentioned above. EP: 84.60-84.80 SL:...
Hey traders, I had a tough trading week. It was packed with SL and missed profits. Will be talking about my struggles last week in my video. Nonetheless, I have been through worst and now is the time to recalibrate and only take the best textbook setups. Pattern Identification Bearish Shark at 112.55. EP: 112.55 SL: 113.15 TP: 111.15 Trade Execution...
I am training my skills to trade H1 setups. I plan to spot type 2 entries only for H1 setups. Trying to do my forward test of the success % of trading type 2 H1 entries. For type 2 entries, I will use pending orders to enter my trades. Pattern Identification AUDUSD completes bullish shark at 0.7634. I will be long once price retest 0.7634. SL will be at...
Hey traders, I am going through a course at OTA conducted by a friend Jeff Manson right now. I am reviewing some setups which failed for me last week. Dollar Index Daily Chart Upon reviewing the chart, I realised that this should be the right way I should draw my shark pattern. Always choose the deeper B leg as your correct B. (Compare this to the other...
Hey guys, I was trading correlated setups in USDCHF and EURUSD last week. Being correlated, I took the shark on the USDCHF and not the EURUSD to avoid "double risking". I got stopped out and decided to watch the bigger TF for where EURUSD could go to. This is what I spotted. Pattern Identification Bearish Shark completes at 1.12. This is easily a 300 pips...
I see a bat completing on USDJPY. Pattern identification USDJPY Bearish Bat at 111.20. Trade Execution Will initiate sell at market now 111.14. SL will be at 111.40 (24) TP will be at 110.55, the 0.618 Fib retracement of AD (59)
This is an example of Harmonic patterns working perfectly on less traded cross pairs. This is the GBPNZD, a super volatile currency pair which can easily move 300 pips in a single day, it might not be for everyone. Pattern Identification Bearish Bat completes at 1.7820 - 1.7840. This is a pattern to sell. Trade Execution Wait to enter short at PRZ zone...
Hey guys, this is a nice H1 setup on EURCAD to sell. Pattern Identification Bearish butterfly pattern completion. Type 2 entry. Trade Execution This sell entry should fall between 1.4450 to 1.4470. SL will be set at 1.4510 and TP is the 886 retracement at 1.4270. Easily a 1:3 R:R on this setup. This trade will be invalidated if it breaks above 1.4460...
Hey guys, sorry for the lack of updates this week, alot of offline workshops and meetings for last week. Good news, next week, my schedule looks empty and I might be able to squeeze in more time here on tradingview. Last week was about waiting for the USD to reverse. Clues were everywhere, GBPUSD hit resistance, audusd and eurusd completed bearish...
Hey traders, am preparing myself before my webinar at 9pm tonight. I see a nice setup that just completed on USDCHF Pattern Identification Bullish shark completion at 0.9895. Trade Execution I missed the entry price around 0.9895, have put in a pending order to buy on any retest. There is USD news tonight, hoping for a retest downwards for me to get in...
Hey guys, monitor EURGBP for a potential sell at $0.88. This is a shark pattern completion on the H4 timeframe. Pattern Identification Shark pattern to sell at 0.88 Trade Execution Monitor for pinbar, candlestick reversal at PRZ before execution. No reaction no trade. SL will go at 0.8840 TP will be at reciprocal ABCD completion at 0.8615. News event...