Harmonic Trading - page 137
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ziko,my jpy appears pattern when it dropped to 118.15, do you think that even it hit the stop, when it drops back we should re-enter?
yes u should re-enter, my first enter signal was @117.52, it was triggered and then price went straight up exceeding the previous recent high of 117.92,
today's entering signal was 117.99 with a stop of 118.45, I took it but didn't post here since I see no value of posting hind sight trades, it is too late to enter it now
yeah,now there are no points posting the jpy signal, i am just waiting to take profit. How about gbp/usd 4h chart. I have a butterfly pattern. Aiming to sell high later today. My stop loss and target are not fix, it depends on the market movement, i believe that flexibility is the important in trading forex.thanks for the reply.
Butterfly?
yeah,now there are no points posting the jpy signal, i am just waiting to take profit. How about gbp/usd 4h chart. I have a butterfly pattern. Aiming to sell high later today. My stop loss and target are not fix, it depends on the market movement, i believe that flexibility is the important in trading forex.thanks for the reply.
Hi Yan,
On the 4 hr chart it looks more like a bearish Bat, hence there is a danger that this Cable rise can extend towards the 261.8 extension of AB.Also the daily should reciprocate the 4 hr pattern so confirming the Daily signal.
If we consider this then the chart is showing more potential for upward movement also continue to the 32.8 retrace level to confirm Bearish Bat on daily. As we can see we are only forming point B of said potential Bearish Bat on Daily chart.
These are dangerous formations to trade because of the unknown D point reversal. Will it be around 268.1? Or greater? The reason; this can easily change into a bearish crab- in that case we will be looking for the last leg extension to 361.8 of AB.
I think that is why Harmonic traders prefer the stronger patterns as there is less ambiguity in pattern recognition especially in FX.
I emphasise the potential because we should be trading what we see not what we think we will see.
thanks for the reply, for me i do not enter only 1 position, basically i will separate to 2 or 3 positions, as for now, i short gbp at 1.8880 with a stop loss (temp) at 1.8930. that is 1/3 of what i am preparing to enter to the market. i will re-enter once the market go against me at a higher price or when the price falls below. (that's my strategy, never enter one shot at a price, i am not good in determine the high.)
GMT chart
HI All,
I have a GMT chart that is producing what I believe to be a Bearish Gartley or bearish something else? On Other charts I am only getting a much smaller Bearish Bat.
Can anyone confirm this for me?
erujpy and usdjpy triggered
move stop on usdjpy to 118.20
move stop on eurjpy to 150.20stopped on EURJPY -> -90 pips
bearish gartley EURJPY H4,
entry-> 149.95
stop-> 150.48
Hi to All ! U may use just MA T3 and Stoch maybe.....
As fore me: + MMLevels and Regression R\S statistic based certainly.
Like this :
mmmmm..... Sorry - in attachements.
Regards.Ouch, what did you do with your chart?
Today is a harmonic day. Check it out.... www.abuseyou168.blogspot.com
bearish gartley EURJPY H4,
entry-> 149.95
stop-> 150.48currently trading @149.48 -> +45 pips, move stop to breakeven
no hind sight or after the fact trades