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Terryharmonic

EURUSD - Bearish Shark at 1.18Had a very quiet week as I was down with the flu. Now I am slowly recovering and I am looking forward to have a great week! I am watching how EURUSD unfolds next week. 2 scenarios are likely 1. Price completes the shark pattern and reverses 2. Price reaches the top of the ED channel, struggles and falls Both are significant and I look forward to see the volume action at these levels before entering my trade. Tentative levels for the shark short EP 1.18 SL 1.19 (100) TP 1.158 (220)
Short
by TerryHarmonicTrading
3
GBPUSD - Bearish Bat in progress around 1.36Last week, I released a few ideas on shorting GBP, namely GBPAUD and GBPCHF. (see related ideas) However, there was never any volume trigger to execute both setups. Being patient, the market showed its true color and the GBP went much higher. Looking at the 4 hour chart, I expect GBP to climb much higher to complete the bearish bat pattern around 1.36. In the hourly timeframe, any pullback to decent support could be considered for a long. I will keep you guys posted when I take any positions on the GBP. Great trading everyone!
Short
by TerryHarmonicTrading
NZDUSD - Bearish Bat (H1)I see a bearish bat completing on NZDUSD. The USD looks strong and I think it is unlikely to turn soon. If you refer to my previous post on the NZDUSD daily bullish bat, I remain bullish in the longer time term, but I am still interested to short it in the shorter time frame. NZDUSD should need more time to consolidate before any big movement upwards. Therefore I am interested to see how price reacts to this bearish bat pattern on the H1 timeframe next week. I am interested to ride it from 0.6890 to 0.6820 depending on the vol cues at the PRZ. Will keep you guys posted.
Short
by TerryHarmonicTrading
EURUSD - Channel Play (Classic No Demand Setup)EURUSD is a pretty straight forward channel play. I will only be interested to trade when it reaches channel extremes or when harmonic pattern completes. Currently, there are not patterns. If you look back just a few days ago, we have a classic no supply at top of channel. What is no demand? Price did a breakout with extremely low volume, this indicated not many buyers are interested in this move up. (no demand = no buyers ) After struggling for 8 hours, price dropped on a big red bar with high volume. This indicates sellers have come in. In instances like this, we should wait for any pullback to top of channel before initiating any shorts. The direction should be bearish and I will only look for reasons to join the sellers. I will not chase the lows and get myself stucked in a bad situation. Will keep you guys posted next week.
by TerryHarmonicTrading
5
GBPUSD - Bullish Shark just below 1.3Apologies for the quite week, went to Shanghai for a week of work and meetings. The internet connection there was horrible too, making it a chore to chart on tradingview. Now that I am back, I want to share some ideas I have for next week. First up is GBPUSD where I see a potential bullish shark completing next week on the h1 chart. EP 1.2985 - 1.2995 SL 1.2940 (55) TP 1.3250 (255) Before the entry, I hope to see these happening on the volume indicator. 1. Big black bar signaling the big boys are starting to buy in 2. High effort, close strong candle I might get in on the inital entry or the retest depending on how convincing #2 is.
Long
by TerryHarmonicTrading
2
NZDUSD - Bullish Bat on the daily chartThis is the daily chart of the kiwi. Either this week or next week, it will come to the bat pattern PRZ zone. This could mean at least a decent rebound on NZD provided the price reacts to the pattern. I will be monitoring the volume closely for opportunities to get long on this. I would want to see a rejection of the PRZ on high vol or a low vol push up after price touches the PRZ. As this is a daily chart setup, expect bigger than usual SL and TP. Size your trades properly. EP 0.6900 - 0.6910 SL 0.6750 (150) TP 0.73 (400)
Long
by TerryHarmonicTrading
1
AUDUSD - Short on Shark pattern pullbackHad a great ride on AUDUSD last week, pocketing over 200 pips. (See related idea). Post NFP, I see the sellers still dominant in the H4 timeframe. We could see a shark pattern playing out where I will look to short around the PRZ level of 0.7960. I hope to see some form of extreme volume exhaustion move before this PRZ level before executing my short. Any longs on Monday open is pretty good in terms of risk to reward, but I will choose to long EURUSD instead of this. EP: 0.7960 SL: 0.8010 (50) TP: 0.7630 (330)
Short
by TerryHarmonicTrading
2
EURUSD - Bearish Shark 1.1970Will not be surprised to see a pullback upwards for EURUSD. 1.1970 is a shark pattern PRZ short level for EURUSD. Will be monitoring the volume around this level for potential short opportunity. EURUSD is currently bouncing off H4 support nicely and the path of least resistance should be upwards for now. Look out for abnormal volume (Black Color, Ultra High) when it reaches close to the Shark pattern PRZ. Will update when it gets closer to my entry price
Short
by TerryHarmonicTrading
EURAUD - Shark Pattern Completes (Wait for this to short)This is an update to my EURAUD idea I posted a week ago. Initially was looking for a retest of resistance to short, however I changed my mind and updated the idea to short much higher (See related link) During NFP, the level I was looking out for was touched. This setup is great due to the following reasons. 1. Exhaustion vol at PRZ 2. Pattern Completion This is what I will be waiting for next week before I short this pair. One of both of these scenarios could happen. 1. Above average vol H4 candle which closes weak. 2. A retest of the 1.5120 level Likely #1 can happen but if #2 happens before #1 happens, it will be a higher probability short. EP: Close to 1.5100 SL: 1.5190 (90) TP: 1.4810 (310)
Short
by TerryHarmonicTrading