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
88 % forex 6 % stocks 1 % indices 6 % other
Top Mentioned Symbols
AUDUSD 7% | 11 CADCHF 7% | 11 USDJPY 7% | 10 GBPUSD 5% | 8
BoonHooi BoonHooi NZDUSD, 240, Short ,
NZDUSD: NZDUSD completed bearish Shark Pattern
110 1 9
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
167 1 8
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)
114 1 10
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
227 0 14
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
124 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
74 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
204 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
50 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 ...

BoonHooi BoonHooi GBPCAD, 60, Short ,
GBPCAD: GBPCAD - Completes the Bearish Bat pattern
220 3 6
GBPCAD, 60 Short
GBPCAD - Completes the Bearish Bat pattern

From the last post in early April (see related idea). Price did not manage to complete the Harmonic Pattern and it dropped. This time around GBPCAD has been on the rise and has not reached a critical zone, completing the Pattern. Pattern Identification Completed a Bearish Bat Pattern at this current levels. Starting to have a bearish bias. The H1 RSI has also ...

BoonHooi BoonHooi NZDCHF, 240, Short ,
NZDCHF: NZDCHF - Bullish Bat Pattern completing lower
105 0 6
NZDCHF, 240 Short
NZDCHF - Bullish Bat Pattern completing lower

The pair seems to be at resistance now, we could be looking at a CD leg trade. The down before the buy based on the pattern. Pattern identification Bullish Bat pattern completing at 0.6960 Trade Execution Looking to go short before the buy. Hope to see a smaller pattern or a setup to go short first down to the completion of the Bat pattern.

BoonHooi BoonHooi GBPCHF, 240, Short ,
GBPCHF: GBPCHF - Approaching Resistance
139 0 7
GBPCHF, 240 Short
GBPCHF - Approaching Resistance

The pair has been flattish most of last week. Let's be patient and wait for the next leg movements. I see the pair potentially moving up a little to test the resistance at 1.2640/60 before it comes crashing down. Trade Execution I would like to see some rejection candles at the resistance. Ideally it can create a bearish pattern completing at the resistance ...

BoonHooi BoonHooi CADCHF, 240, Long ,
CADCHF: CADCHF - Currently at support
90 0 5
CADCHF, 240 Long
CADCHF - Currently at support

The pair seems to be at support this moment 0.7530/40. Pattern Identification I do not see any Harmonic Patterns on the H4 chart, will try identify a pattern on the lower TF Trade Execution If price get's support at the beginning of the trading week, I could look to go long at the bottom of the channel all the way up to the top of the channel.

BoonHooi BoonHooi AUDCHF, 240, Short ,
AUDCHF: AUDCHF - Completing a Bearish Shark slightly higher
58 0 5
AUDCHF, 240 Short
AUDCHF - Completing a Bearish Shark slightly higher

AUDCHF seems to have a strong support at 0.7480 and the resistance at 0.7650 Pattern Identification There is a bearish Shark Pattern completing at 0.7650. About 30 pips away. This could be a trade for early Monday morning Trade Execution I would want to see price react at the PRZ by forming a reversal candle/pattern. Then only I would take the short ...

BoonHooi BoonHooi EURGBP, 240, Long ,
EURGBP: EURGBP - Bullish Crab completing lower
125 0 9
EURGBP, 240 Long
EURGBP - Bullish Crab completing lower

EURGBP has been very weak, drifting lower and lower. Pattern Identification I am probably forcing a pattern into this setup here. I see a bullish Crab Pattern completing 0.8415. Ideally if it coincides with the bottom of the channel. There is a strong Horizontal support at 0.8450 RSI already showing potential bullish divergence Trade Execution Wait for a ...

BoonHooi BoonHooi GBPNZD, 240, Short ,
GBPNZD: GBPNZD Completed a Bearish Bat pattern
102 0 5
GBPNZD, 240 Short
GBPNZD Completed a Bearish Bat pattern

The pair completed a bearish Bat Pattern and now seems to be supported by the TL and the pattern PRZ. Pattern Identification Bearish Bat completed at 1.7860 levels. Price didn't really respected the PRZ (making it a 'poor' pattern PRZ). We can be more patient on this setup Trade Execution In this particular case, the short trigger could be when the price clears ...

BoonHooi BoonHooi GBPAUD, D, Short ,
GBPAUD: GBPAUD - Bearish Shark with resistance
127 0 6
GBPAUD, D Short
GBPAUD - Bearish Shark with resistance

Similar to the movements of EURAUD, GBPAUD has been making lower highs since June 2016. Again 2 days ago it got resisted by the 1.6700/20 levels. Pattern Identification Completed a bearish Shark Pattern and fell. Trade execution Looking for any continuation pattern to take a short. Currently breaking the TL support

BoonHooi BoonHooi AUDNZD, D, Long ,
AUDNZD: AUDNZD - Currently at support
118 3 6
AUDNZD, D Long
AUDNZD - Currently at support

I would like to talk about pair correlation here. If you are bearish on the EURAUD and EURNZD (see related ideas), which pair would you short if you can ONLY take one trade ??? Try think of your answer first before continue reading. What should be your thought process ?? My thoughts One way to decide which pair to choose is to look at AUDNZD. If AUDNZD currently ...

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