Opened a nice buy trade on USDJPY with price at support out of a bullish harmonic pattern. Price took us up quite nicely to + 20 pips , when we moved our stop loss. Price then continued up to our take profit zone at daily pivot giving us 76 pips total.
Trade taken again on 4 hr chart on CADCHF , bullish crab pattern out of support. We had a price bounce but it was pretty twitchy looking like it was reacting in some way to the euro drop. So we took 21 pips on the first half and then closed it out totally a bit […]
We took a long trade last week on the EURUSD 4 hour chart last week, out of a bullish pattern. The pattern was strengthened by the daily trendlines. We took 59 pips at first and then a further 104 at the 1.33 level with stop at break even . Pair reversed back to our stop […]
Seems to be some divergence occuring here on EURJPY daily chart. We need to be watching the price action if the price drops back down to the lower trend lines for the possbility of a trend reversal.
There is a bearish butterfly pattern setting up on the EURAUD daily chart. The pattern becomes live around 1.3540 so a while to go on it yet , may be a good one to keep an eye on.
Good example here of a Gartley pattern starting to form up and then becoming invalid. All the levels were correct we just had to wait until the D point was formed to take the short . As can be seen the d point was not reached and as soon as the price broke below the […]
Harmonic trading is a trading method that uses defined patterns in an attempt to predict a price reversal of a financial instrument. The actual patterns are generated by previous price reversals at certain fibonacci levels. The assumption is that these patterns when repeated offer a high probability of a successful trade. The patterns are not […]