2 months ago, I talked about this bullish shark setup on Gold. (See related ideas below) It has yet to reach our entry level, but we are now very close. Some minor updates include buying slightly higher at the 1083-1092 zone instead of the 1045 area as I am following the strict rules of the Shark pattern. Further explanation will be in my weekly video which will...
Hey guys, this is a setup I talked about in my weekly webinar which just happened yesterday. This is CHFJPY on the 4hr chart. Pattern Identification I see a bearish butterfly completing at 114.50. The B point is slightly higher than 78.6, it is still a valid butterfly as long as it does not hit the 88.6 retracement. Trade Execution I will look to go...
Hey guys, this is a follow up on my view on USOIL after my webinar yesterday. Pattern Identification I see a bullish shark completing at 51.20 yesterday. Trade Execution I was telling everyone to watch for a reaction at the PRZ before any longs. Because we do not trade with pending orders, this is a trade that we did not get to execute and I am glad this way...
Next week, I am predicting early week weakness for USD. USDCHF completed a bearish shark(blue triangle) on Friday and started to fall. In the upcoming week, we have NFP and we might see USD continue dropping before NFP. Pattern Identification We have a bullish shark pattern completing on the H4 chart on USDCHF around 0.9850 - 0.9860. This is a zone of...
Hey guys, some updates before I end the week. Took a loss on a USDJPY trade yesterday. This morning I saw a bullish shark formation on EURUSD. Pattern Identification Bullish Shark at 1.05. Price has bounced off the PRZ last night, moving about 20 pips north. Trade Execution Currently I am waiting for a retest of 1.05 and I will only execute a buy if I...
NZDUSD just complete a ABCD pattern on Friday. Bulls are likely to come in when market opens tomorrow. Pattern identification ABCD pattern completes at 0.7. This is a bullish ABCD pattern where my bias is to go long upon pattern completion. Trade Execution This is a buy at the open on Monday. For conservative traders, you might want to consider going...
Hey traders, just want to share my thoughts on CADJPY Pattern Identification Currently, price has been respecting this ED channel on the H4 chart for the past 3 months. There is currently no Harmonic patterns that is completing. Trade Execution I will personally wait for a rejection at the upper boundary of the H4 channel before I think about executing a...
Hey traders, just sharing more information about trading the Gartley pattern. New traders who just got started in Harmonic trading often ignore the importance of an ABCD pattern within a Gartley Pattern. Pattern Identification The Gartley pattern completes around 85.60 where an AB=CD pattern completes close to the XA 88.6 lvl around 85.60. Trade Execution...
Hey guys, I am about to execute a short on USDJPY. Pattern identification Bearish shark at 113.90 Trade Execution 1. I see a bearish divergence on the RSI. 2. A secondary test at the PRZ (XC 113 + BC 2) SL will be at 114.30 TP will be at 112.85 This trade will be invalidated when it hits our SL at 114.30.
Hey guys, I am monitoring EURGBP. Pattern Identification I see a potential Bat pattern completing at 0.8570. This pattern completion level is great as this level is also at the upper boundary of a down sloping channel. Trade Execution Based on the rules of the bat pattern, I will look to execute my short around the PRZ at 0.8570, once I see that price...
Hey guys, USDCAD will be on my radar next week too. USDCAD has been range-bound in February, and I expect the range to remain going forward until perhaps NFP March 2017. The USD is likely to undergo further correction downwards aligned with the setup I spotted on USDJPY last week. Pattern identification I see a potential bullish shark pattern completing...
Hey guys, over the weekends, I wrote about a potential long on USDCAD at 1.3. It did not hit my entry level and now I am looking at this bigger pattern on H4 to sell instead. Pattern Identification Bearish Shark Pattern completes at 1.3680. This level is nice as it will also complete a bull trap for those trading breakouts. Trade Execution I will wait...
This is a followup to my post on SPX last week too. The price action for the last 2 days hints to me that this could be a bull trap scenario that will kill lots of retail traders. I expect a bigger correction for this, for bitcoin, for Dow Jones and most indices. This could breakdown further next few days, does a little move upwards to complete a HNS pattern...
Hey guys, this is an update to the EURJPY setup I posted last week. We are right there at the bottom of the triangle. What is interesting to me is the formation of an RSI bamm at Friday's closing price. Pattern Identification RSI Bamm at bottom of triangle. RSI Bamm is the formation of a W/M structure at RSI oversold/overbought where this is considered a...
Hey guys, this is a follow up to my post on bitcoin written a few months back. I predicted a drop so that I could buy around $600 but it did not happen. Going forward, it has broken up to an all time high. This is how I will potentially trade this Pattern identification I see a bearish butterfly completing around 1240. This is a level where sellers are...
Hey guys, this is what I think about Gold for the upcoming week. We have been on a 3 month uptrend now, but take note that the daily chart is still on a downtrend. 1280 is the higher boundary price of this channel which I mapped out. Pattern identification I identified a ABCD pattern completing around 1280. This is a bearish pattern where sellers are likely...
Hey guys, just woke up and saw an amazing setup on CADCHF for a short Pattern identification 1. Deep Gartley completion at 0.7700 2. ABCD completion at 0.7700 Execution Price has rejected the PRZ zone, I have just entered short at current price of 0.7690. SL is at 0.7740 and TP is at 0.76. Almost a 1:2 R:R on this. Good luck and good trading all!' On a...
Hey guys, first of all, thank you for the follow and all the praises you guys showered on my analysis. Having a great start to 2017, growing confidence with trading harmonics year after year. I am glad to share my knowledge here having learnt directly from Scott Carney. It is Friday now and I am expecting further bearishness for USDJPY. Pattern Identification...