BoonHooi

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About me A Trader and Trainer at HarmonicForex.com. Majority of the trades are based on Harmonic Patterns
Joined Singapore
Trading the Harmonic Patterns. I will share as many of my trades as I can here.
Markets Allocation
87 % forex 6 % stocks 1 % indices 6 % other
Top Mentioned Symbols
AUDUSD 9% | 14 CADCHF 7% | 11 USDJPY 6% | 10 GBPUSD 6% | 9
BoonHooi BoonHooi EURUSD, 60, Short ,
EURUSD: Rising Wedge on EURUSD
188 1 4
EURUSD, 60 Short
Rising Wedge on EURUSD

EURUSD approaching the resistance zone created by the Aug 2015 and the May 2016 highs. I see a rising wedge forming with the RSI showing that this move is exhaustive. Will look to go short if it breaks out of the wedge.

BoonHooi BoonHooi U96, W, Long ,
U96: SembCorp Industry - Potential long in the making
19 0 9
U96, W Long
SembCorp Industry - Potential long in the making

Technicals/Charts: - Approaching the Support/Resistance at 3.20/3.30 levels - Weekly RSI turned up at 50 - showing strength still - MACD consolidating for some time I would like to see price break above the resistance TL and the support turned resistance zone with high than usual volume. This will give an indication of a strong rally.

BoonHooi BoonHooi AUDUSD, 60, Short ,
AUDUSD: AUDUSD retracing/consolidating after yesterday's drop
192 1 9
AUDUSD, 60 Short
AUDUSD retracing/consolidating after yesterday's drop

Fundamentals / News / Sentiments: On Tuesday the RBA maintained the rates at 1.5%. This is seen as a mildly hawkish move. More economist have shifted their stance and abandoning their forecast of a rate cut. They are expecting the rates to remain at 1.5% for the rest of 2017 and well into 2018. The ECB, BOE and BOC has recently turned hawkish and started talk of ...

BoonHooi BoonHooi AUDCAD, D, Short ,
AUDCAD: Similar weakness seen in the AUDCAD
63 0 4
AUDCAD, D Short
Similar weakness seen in the AUDCAD

AUDCAD has been supported at the 0.9920/50 levels since April This moment it looks like the support is giving way. Since I am already in the AUDUSD short, probably I will wait for the retest of the 0.9950 level for a short at a better price Potential Targets can be at the 0.9650 lows

BoonHooi BoonHooi AUDUSD, D, Short ,
AUDUSD: AUDUSD Daily Chart approaching Resistance
250 0 13
AUDUSD, D Short
AUDUSD Daily Chart approaching Resistance

What the chart is showing us: - AUDUSD approaching resistance at the 0.7700/50 levels - Friday candle closed and formed an inverted hammer - RSI just about touching the OB levels - Completed a Harmonic bearish Bat pattern Potential targets down at 0.7500 (support/resistance zone) Let's see how the price moves at the start of the week

BoonHooi BoonHooi GBPUSD, 240, Short ,
GBPUSD: GBPUSD Completing a bearish Shark Pattern
323 1 6
GBPUSD, 240 Short
GBPUSD Completing a bearish Shark Pattern

GBPUSD has been on the rise this past week. The pair has risen over 350 pips from the 21st June lows. Technicals The momentum of this move is strong, it will need some time to form a base before a reversal can happen. The RSI showing overbought situation, hence I believe there will be a pause in the rise at this point of time. Pattern Identification Bearish ...

BoonHooi BoonHooi DXY, D,
DXY: DXY Completing a bullish Pattern
82 2 6
DXY, D
DXY Completing a bullish Pattern

The Dollar Index seems to be respecting the PRZ of a Bullish Harmonic pattern this moment. Possible to see USD strength in this coming week. The horizontal 97.50/70 would be the critical zone to cross to confirm its bullishness. Let's look for the correct pair to trade if this USD strength plays out.

BoonHooi BoonHooi AUDCAD, D, Long ,
AUDCAD: AUDCAD at support
117 3 3
AUDCAD, D Long
AUDCAD at support

The 0.9950/1.0000 level seems to be a good support for this pair. Took a long at 0.9991, hoping to target the 1.02 levels Stops at 0.9935

BoonHooi BoonHooi AUDUSD, D, Short ,
AUDUSD: AUDUSD reaching the top of the Daily chart range
171 2 4
AUDUSD, D Short
AUDUSD reaching the top of the Daily chart range

AUDUSD has been in a range from 0.7150 to 0.7750 since the beginning of 2016. As this pair rallies from the beginning of the month of May 2017, it is fast approaching the top of the range again Bat pattern completing at the 0.7700 level. I would be interested to see how the price reacts to this level before looking for a short.

BoonHooi BoonHooi NZDUSD, 240, Short ,
NZDUSD: NZDUSD completed bearish Shark Pattern
142 1 10
NZDUSD, 240 Short
NZDUSD completed bearish Shark Pattern

The pair completed the Shark pattern and reacted to the PRZ. I am in a short position at 0.7032, with stops above the highs at 0.7085. Looking for targets at 0.6901. Have to watch out for support at 0.6940/45 levels

BoonHooi BoonHooi AUDUSD, 30, Short ,
AUDUSD: AUDUSD M30 Bat Short
173 1 9
AUDUSD, 30 Short
AUDUSD M30 Bat Short

This is the second Bat pattern that I see. Pattern Identification Price completed the Bat pattern at around 0.7385 Price seems to be range bound for this week. Trade execution Entry price = 0.7379 after seeing reaction to the PRZ Stops = 0.7408 Targets = 0.7353 (will monitor this closely)

BoonHooi BoonHooi EURCAD, 240, Short ,
EURCAD: EURCAD - continuation of short (bearish Bat)
125 1 11
EURCAD, 240 Short
EURCAD - continuation of short (bearish Bat)

Hi everyone, If you were following my posts, I was stopped out when price hit my protective stops. I am re-entering the trade based on the rejection of the 20MA (BBand) EP at 1.4913 Stops at 1.4958 (above the recent highs) Targets at 1.4608

BoonHooi BoonHooi EURCAD, 240, Short ,
EURCAD: EURCAD completed bearish Bat pattern
273 0 15
EURCAD, 240 Short
EURCAD completed bearish Bat pattern

Bearish on the EURCAD Pattern Identification Price went up to 1.5150 late last week to complete the bearish Bat pattern. It also formed a rising wedge (reversal) pattern and broke below RSI forming a bearish divergence Trade execution Took a short trade after price went below the lows at 1.4953. Stops are still currently above the 1.50 mark at 1.5030 Potential ...

BoonHooi BoonHooi EURCAD, 240, Short ,
EURCAD: EURCAD ABCD pattern still in play
126 0 5
EURCAD, 240 Short
EURCAD ABCD pattern still in play

I believe that although this AB=CD pattern complete early last week (see my related post). The trade is still in play. Pattern Identification AB=CD completed at 1.4868 Rising wedge forming right this moment RSI continues to show bearish divergence Trade Execution Let the price break below the rising wedge for a trigger, or a retest of the wedge

BoonHooi BoonHooi NZDUSD, 15,
NZDUSD: Missed out on NZDUSD long at strong support
60 0 2
NZDUSD, 15
Missed out on NZDUSD long at strong support

NZDUSD dropped drastically last week to a strong support level 0.6850 Stabalised over 3 days, formed a harmonic pattern for traders to go long. Will see how this plays out to try get into a trade.

BoonHooi BoonHooi NZDCAD, 240, Short ,
NZDCAD: NZDCAD - A Short before the bigger Long
78 0 4
NZDCAD, 240 Short
NZDCAD - A Short before the bigger Long

The beauty of trading Harmonic Patterns is that at any one price level, there will not be a sell and a buy signal happening together. Pattern Identification I see a smaller bearish Shark completing at 0.9485 level. If price respects and rejects this level, we could potentially see this fall to the 0.92 levels to complete the bigger Bat pattern. Trade ...

BoonHooi BoonHooi EURCAD, 240, Short ,
EURCAD: EURCAD - Completed an AB=CD pattern
205 0 9
EURCAD, 240 Short
EURCAD - Completed an AB=CD pattern

The EUR has been on a tear since the Emmanuel Macron leads the polls in the French presidency elections. Macron is known for his pro business and pro EU stand. Pattern recognition Completed the AB=CD pattern at 1.4868 Bearish divergence on the H4 RSI Trade Execution Can potentially take a short now with stops above the recent highs 1.4915

BoonHooi BoonHooi NZDCHF, 240, Short ,
NZDCHF: NZDCHF - The DOWN before the UP
53 0 5
NZDCHF, 240 Short
NZDCHF - The DOWN before the UP

NZDCHF seems to be in a range for the past 1 months after the drop prior to that. Pattern identification Noticed in the earlier post, there was a potential Bat pattern forming, how that quickly became invalid and now we could be forming a bearish Shark pattern. If rice goes higher than PtC here, then this Shark too becomes invalid. Shark Pattern to complete ...

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