Shorting Eur/Usd.
Even with the decline on this pair, I believe before retracement can occur, certain price levels must be tested.
Short EUR/USD= +72.9 Pips
Short AUD/JPY= +45
Long USD/CAD= +19.7
USD/JPY= -0.2
I love to see these patterns. I’m working on training my eyes to see them. I realize that First I need to see the simple ABC harmonic lines. Thank you. Nita
I am shocked. After I closed my pairs, everything went into a spiral. I am glad that I closed my positions before class!
Patterns do not differ much besides a few lines and numbers. I will post them Saturday after I fully digest through these pairs.
Yesterday was my first day trading my techy with news. That did not go so well because the news were conflicting with my analysis and . I am not going to rely on news unless it shows major trend reversals. I did risk only .5 percent on the trades yesterday. I am glad I did.
My new goals:
- Never Risk 2%
-Risk 1% or lower - Multiple Time Frame Analysis
-Focus more time on Daily, and Weekly - Entering on 30 min and 1 hour time frame.
-A better entrance can be given on 15min or 5 min - Do not focus or trade based on minuscule news.
-Trading news has high volatility. - Report key support and resistance levels.
-Levels must be noted to see levels of retracement to see if market respect any levels. - Stick to simple harmonic and Wave patterns.
-Do not overcomplicated waves. Keep simplistic as possible.
I will add more to this list to narrow trading platform.
Great journal/thread/setups!
Enjoying your waves analysis. Maybe one day I will add waves to my patterns, have tried to trading based on the Elliot wave basics in the past, but I think I need a more mechanical approach. By the way, take a look at usdcad weekly tf, dont miss that bat!
Thank you and thanks for stopping by! This is a work in progress. You should apply waves to your pattern trading. If not, make sure to fully digest market directional bias. It has helped greatly when I catch gartley 222 patterns! I was in your position in the past but I had to stall wave and harmonic patterns to fully understand price action. Price action is key.
I have taken a look at the weekly USD/CAD. Unfortunately, I dont trade bats that often. Mostly gartleys because they tend obey the golden ratio more often. However, I will tell you this and I am glad you pointed this out, USD/CAD outlook may be indeed bullish after a week or so. I am expecting a retracement? Why? Because the triangle formation was broken. IT will fall in order to become more bullish. That is my speculation.
I am sitting here back tracking EUR/USD when something occured to me. A head and shoulders is forming on the EUR/USD. Funny thing is, price objective has not been met! That means there “can” be 300+ pips up for grabs. What is enticing is that with the news of the US earlier last week stimulating or reinforcing the USDX, this can be correlated with the EUR/USD pair. If feds do pull out, it would catastrophic for the EUR. IT would break two major support levels confirming the directional bias of the market to be bearish.
Also, through my wave counting, it suggest a bull market. If what above were to happen, I believe the Euro will try to rally up but more volatile news will bring it back down even further. I have to wait and see what will happen before I enter on this pair. All in all, I do believe that the Eur/Usd will continue downwards.
Stress is inevitable! Wish you success.
This is very weird. I have gone all against the US at the moment. I have expected targets and we will see how this goes. This will be a short term trade(s). I will post analysis results after midterm week!
I just wanted to say thank you for this solid thread. I really enjoy seeing your insights, as I’m learning harmonics 
No problem! Make sure to head over to “30 pips a Day” thread. It is a great resource for learning wave and harmonics pattern. If you have any questions ask! I rather be wrong and be clarified then wrong and not know.
Okay folks. This was a day trade. Two open trades at the moment with -15.7 pips. However, I have made a total of +200 pips with just the opening of the market. I [I]should [/I]say I am done for this week, but I will be scouting for more entries but with lesser risk. All of my trades were done with less than %2 risk. I figure that my money management needs some polishing to do first before I trade with real money.
AUD/JPY: +57.2 pips
GBP/USD: +48.3 pips
(1) AUD/USD: + 20.2 pips
(2) AUD/USD: + 50.4 pips
(1) USD/JPY: + 42.06 pips
(2) USD/JPY: +86.5 pips
EUR/USD: -34.35 pips
Closed Aud/Cad
(1) @ 1.5% Risk 40.3 pips
(1) @ 1.0% Risk 16.9 pips
I will post chart later this week. I have pchem test… :’{
OK folks! I am back but not for long due to classes keeping me busy. Especially Anatomy…
Remember when I told you a head and shoulders was forming?
Look, now! It has completed!
Remember when I said it has a range of 300+ pips? LOOK! 300+ (339 from the shoulder region!)
EUR/USD Pair
If my number are correct, the correct wave should be taking place. I have went long on this pair and AUD/USD (I will post AUD/USD another time). The image shows the speed this second speed level being tested. I believe point 5 is where it is is because it is also where wave C is- in the bigger wave before it. IT touches the channel line and retraces. If this wave were seen from a larger perspective, it can be seen as a rapid wave up, therefore; I added channels for those in red. During the next few weeks or so, if the EUR is still in a bearish mode, we can see it attempt to break the November fractal low. If it does, then market will definitely be bearish. But I have indications of it being more bullish then bearish within the 4hour, 8 hour and daily time frames. I am anticipating if price will test the second speed level with also coincidentally happens to be near the 61.8 percent fib level.
My prediction: From the head and shoulders review, since price had it’s complete order, it can retrace up to a certain fib levels and THEN continue the bearish move. I am in the trade for the correction wave anticipating only a couple hundred pips. IF the trade will go in my direction, I will pull 1/2 out at 100 pips flat and let the rest run with a trailing stop. Once it reaches the levels of retracement, expect another retracement down- as in, going short. This would be ideal to me because the EUR/USD pair would want to test the November low to actually define market flow. IT has broken the January’s low, so why not test the November low? (have in mind that there is also a early December low) I decided whether or not to to liquidate my position depending on how the market reacts the levels i indicated on the graph. What i find conflicting is that price has moved from lower lows to higher lows which what everyone should know as a bearish condition. I have not yet done my analysis for the hourly nor the 30min nor 15min. I dont know if i want to post them up yet.
March 6, Aud/Usd (-20 pips)
(-.5 pips)
March 7, Eur/Usd (+73.7 pips) (1)
(+76.8 pips) (2)
Aud/Usd (+20.8 pips) (1)
(+4.8 pips) (2)
March 11, Eur/Usd (+35.2 pips) (1)
(+22.1 pips) (2)
Aud/Usd(+55.1 pips) (1)
(+48.1 pips) (2)
Usd/Chf (+28.0 pips) (1)
(+45.93 pips)(2)
I will tell you this. When you put in the work, you will get the results you will want. Find the right resource and be stubborn about it.
EUR/USD
Prediction: This rally up will soon fall back down within the next couple of hours. However, I believe it has not reached price projections just yet. I want to see how far this goes before I enter in the market. I have two set projections. The one highlighted red is the one where price will ultimately be reached if price projection is still bullish and the one highlighted in orange will be the farthest. That is the farthest because it CAN test the resistance levels and show strong retracements. Once it falls, it will fall until it reaches 1.29662. Here, multiple support can be seen a couple hours away. If it can breach those levels, it will significant and possibly break past today low. That sums it up to about over +150 pips depending on which wave projection is met. I will not be counter trading the trend this time because it is risky.
Look at this bad boy (EURUSD). I wasnt expecting this at all. I was expecting it to reach the 4th wave but when I checked today, I couldn’t. Instead, it opened very LOW! I wanted to close ASAP but it wouldnt let me. I kept falling down! Finally, when it opened, I was able to net +152.1 pips!
I have re-entered but that will come later.
