TerryHarmonicTrading

TerryHarmonicTrading

15 days ago, I posted about this potential shark completing on DXY. We are finally right around the corner. 97 is the level to watch for market reaction. Minimally, we are aiming for 95.40 as the 1st target. And remember, if the market does not reaction and pushes up convincingly, we will not go short. PRZ 97 SL 98 TP1 95.4 TP2 94.20

TerryHarmonicTrading

This is Gold at a critical resistance zone. Firstly we have a bearish crab completing around 1232 - 1235. Next we have a butterfly completing around 1238. Lastly, we have a shark which will also complete around 1238. It depends on which pattern you want to execute on. Crab PRZ 1234 SL 1245 TP1 1212 (AD 382) TP2 1200 (AD 618) Shark PRZ...

TerryHarmonicTrading

JPY pairs are poised for a short term rebound towards the upper range they are trapped in. For cadjpy, it is between 85.50 - 87. Near the top of the range, we have a shark completing. PRZ 87 - 87.10 SL 87.40 TP1 86.20 TP2 85.5 No reaction, no trade. Good luck and good trading!

TerryHarmonicTrading Updated 

After a nice fall from 113.60 to 112.90 on a bearish shark pattern, CHFJPY is poised for another drop, this time on a bearish ABCD pattern. Our bigger target at 112.20 has not been reached, so I am optimistic we could reach this level this week. Bigger target at 112.20 is derived from the daily bearish bat pattern posted last month (See related ideas) Good...

TerryHarmonicTrading

This is the 4 hour chart of USDCAD. We have a bullish shark pattern that will complete around 1.2780. We are also currently at a channel resistance and this could be the C point of this bullish shark. Therefore I have 2 ways to trade this. 1. Sell from C to D This is alot riskier and I highly advice reducing your risk from 2% to 1% if you take this setup. SL...

TerryHarmonicTrading

This is the hourly chart of GBPCAD. Price has hit the PRZ of this shark pattern and reacted. I have gone long around 1.7015. These are the numbers you can consider. PRZ 1.7000 - 1.7015 SL 1.6950 TP1 1.7060 TP2 1.71 Good luck and have a great weekend!

TerryHarmonicTrading Updated 

After a 400 pips fall in the past 2 weeks, we are approaching a nice support zone for EURNZD. A bullish bat pattern will complete around 1.7520-1.7530. This is a higher time frame trend aligning bullish setup which could easily reach our TP if executed correctly. The market must react to the PRZ zone before we can consider going long, never use pending orders...

TerryHarmonicTrading Updated 

Gold could be completing a bearish deep crab pattern in the coming days. After rebounding perfectly off a bat pattern, will this deep crab give us another great profit opportunity in the next few trading days? Deep crab differs from Crab at the B point, where the retracement is much deeper at 88.6%. This 88.6 retracement usually reacts off the XA 161.8 nicely...

TerryHarmonicTrading

This is a follow up to the CHFJPY analysis which we TP 300 pips 2 weeks back. (See related trade ideas) After hitting the first TP of the big daily bat, CHFJPY continued to fall, but I have fully closed my trades locking in 300 pips. The 2nd TP of the bat is at 112.20, which has yet to be reached. Usually, we see smaller patterns form within bigger...

TerryHarmonicTrading

This is the hourly chart of AUDNZD. It is currently moving along a tight range between 1.0985 to 1.0100. Harmonic patterns are usually quite effective even during a consolidating period. The key is to always buy low and sell high. This shark pattern could complete between 1.0985 to 1.0100. PRZ zone 1.0985 - 1.10 SL 1.1020 TP1 1.0950 TP2 1.0930

TerryHarmonicTrading Updated 

This is the daily chart of GBPAUD. We have a potential shark pattern completing. Shark pattern has 3 PRZ zones to consider, usually we pick the one which the FIBO levels overlap more intimately. These are the levels I will be watching closely in he next few days. PRZ Zone 1.8630-1.8670 SL 1.8870 TP1 1.7980 TP2 1.7440 Remember, no reaction no trade. If a...

TerryHarmonicTrading

Bitcoin has been on a downtrend for the past 10 months. Ever since it hit the historical high around 20000, it has lost roughly 70% of its value since. Most retail traders have bought in above 15000, and alot of them are still holding onto it, hoping for a rebound. The strongest support level has been around 6000 for the whole of 2018. The channel upper...

TerryHarmonicTrading

This is the US dollar index. Right now it is on a 4 hourly uptrend, looking to retest the highs at 97. If it successfully retest 97, it will complete a bearish shark pattern which could easily see it falling back to 95.40. Right now, it pays off to be patient, always buy low and sell high and vice versa. These are the levels I will be keeping a close watch...

TerryHarmonicTrading Updated 

This is Gold at key weekly resistance of 1205-1207. After the nice push up from 1190, it has stalled and seems to be going sideways. Mapping out my fibo ratios, I realized that it is nicely sitting at a bearish bat pattern PRZ. For today's trade, I will extend my stops a little bit further as this bat pattern with its B point at 0.382 could extend into an...

TerryHarmonicTrading

This is the H1 chart of GBPUSD. A shark has completed. PRZ 1.3120 SL 1.3160 TP1 1.3025 TP2 1.2950 We are a little late on this, measure your R:R to determine if this is a worthwhile trade for yourself. I got in around 1.3190. Good luck and good trading!

TerryHarmonicTrading

This is the 4hour chart of EURUSD. Last 2 weeks has been super bearish for EURUSD. However, the slide is likely to continue towards 1.1350. Around 1.1350, a bullish shark will complete, leading to a potential buy setup. It all depends on how the market reacts to this zone when it reaches this zone. No reaction, no trade. PRZ 1.1345 - 1.1355 SL 1.1260 TP1...

TerryHarmonicTrading Updated 

GBPJPY has completed a bearish butterfly pattern. The key level is the XA 127.2 extension. SL will need to go above XA141.4, probably 20 pips above this level. The 2 targets are 38.2 and 61.8 of XD. EP: Around market price SL: 150.4 TP1:146 TP2:143.75

TerryHarmonicTrading Updated 

This is the daily chart of chfjpy. It has completed a bat pattern in the daily time frame. Price has broken below the PRZ yesterday, confirming the temporary bearishness. I have entered short around 117.30. PRZ 117.30 SL 119.60 (230) TP1 114.40 (290) TP2 112.20 (410) This is a daily pattern, with wider stops and targets. Do size your positions properly...