Harmonic Analysis - page 57
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GBPUSD M5. Potential bearish anti butterfly, bearish bat, tradable bearish butterfly and bullish cypher.
GBPUSD M5. Potential bearish anti butterfly, bearish bat, tradable bearish butterfly and bullish cypher.
I believe that all the fibs are correct but if any of those fail, it might fail into a bearish shark
I believe that all the fibs are correct but if any of those fail, it might fail into a bearish shark
The PRZ of the shark sits nearby 61.8 retracement of last swing on daily chart and also daily resistance. RSX shows overbought on daily chart so it may be a great opportunity.
now I am looking for end of 2 days cycle...........
Hi Carbonmimetic
Do you mind sharing your cycles or astro trading indicators and giving a brief explanation ??
Thanks in advance
This is why I still use Korharmonics. Two 121 patterns and one SHS pattern on EURUSD 15 minute chart. Gained 80pips.
EURCHF H1 - Potential bullish N200. M15 - Potential bullish bat.
More conservative TP point for higher time frames. Always 38.2 is my first target and 61.8 is second target. Look at the shark pattern on GBPJPY I posted before. The pair hasn't reached 38.2 but it did reached 23.6. Then price went up and it's hanging around in the PRZ. From the entry to 23.8, there's about 110pips in profit (because of volatility in the pair). I think 110pips is pretty good profit and I think it's a good idea to consider 23.6 as a first target on those volatile pair. It may be too conservative but look it was 110pips in profit, wouldn't it be enough? Maybe it's just me not wanting to be too greedy because greediness led me to loss so many times.
EURGBP M15/M30 - Potential bullish gartley.
More conservative TP point for higher time frames. Always 38.2 is my first target and 61.8 is second target. Look at the shark pattern on GBPJPY I posted before. The pair hasn't reached 38.2 but it did reached 23.6. Then price went up and it's hanging around in the PRZ. From the entry to 23.8, there's about 110pips in profit (because of volatility in the pair). I think 110pips is pretty good profit and I think it's a good idea to consider 23.6 as a first target on those volatile pair. It may be too conservative but look it was 110pips in profit, wouldn't it be enough? Maybe it's just me not wanting to be too greedy because greediness led me to loss so many times.
well, it's fine to take profit off on another station, but you don't let the market let do what it does the best - MOVE.
and in harmonic letting the market move around the PRZ couple of time before it hits target is pretty common. in the lower timeframes you don't feel it because trades are done within 1 hour to 1d approx. so you got 110 pips of the GBPJPY.. but statistically your Risk/Reward is damaged if you are 1/1 risk/reward trader then you need to be right 51% of the cases in order to be profitable,
and if you are 1/0.5 risk reward trader, then your system must be right 75.1% in order to produce profit over time
fear and greed do come to play a massive role in those pairs, especially once you are already 100 pips in profit and high leveraged,
the fact that it's 4 hour chart on GBPJPY which is one of the volatile pairs, you should trade it on lower time from or with less exposure of your trading account(use less lots)
so fear and greed won't play a role in your trading.
GBPUSD 15m potential bearish anti-gartley
gbpusd keeps invalidate our potential trades, and once he keeps doing that, we'll keep following it's move.