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 […]
We took a short trade using a head and shoulders pattern and a 50% fibonacci retracement on the NZDUSD We closed out 1/2 of the trade when price gave us +33 pips and moved stop loss to break even . Setting TP at 0.8375 Price then continued down and hit our take profit giving us […]
Opened a short trade on AUDUSD @ 1.0496 after getting a pattern alert and the price at the time not passing 1.05 As can be seen the price actually broke the lower trend line but did not continue much further, we had already moved stop loss in pretty tight in case of reversal. Reversal did […]
Version 2.0 of our popular Harmonic alerts module has now been released. When trading using harmonic alerts in a lot of cases we are trying to take reversals in trend. This can as with any sort of trading have risks associated with it. The key is to try and minimise those risks as far as […]
Took a short trade this afternoon off a bearish bat harmonic pattern alert. We had the extra confirmation of some divergence and a shooting star on the 15 min chart. We took 1/2 profit around the b point of the pattern and moved stop loss to break even. A retracement occured and stopped us out […]
Long trade taken on AUDUSD as it returned to pivot levels and a demand zone. The pivot resisted for a while and I thought we were going to get a nice trade out of it . Stop was just below pivot and was hit for small loss of around 15 – 20 pips depending on […]
Short trade taken off a high position (return to last daily high , using divergence and candlesticks to get in Closed 1/2 around +18 and then closed second half at +45 when price seemed to be rejected by a demand zone. +63 pips for trade.
We took a short trade yesterday off a bearish gartley pattern on the 4 hour chart as alerted by our live harmonic alerts . 1/2 of the trade was closed at around + 20 pips and stop moved to break even. With the Aussie employment figures due we closed out the trade just before the […]