TerryHarmonicTrading

TerryHarmonicTrading Updated 

Had 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...

TerryHarmonicTrading Updated 

The USD is strong. Will not be surprised to see USDJPY challenge 114 where it will complete a bearish shark pattern. Close to 114, I hope some of these will happen for it to be a better quality short. 1. Ultra high vol selling taking place before it hits 114 2. Low vol reversal after touching 114 which closes with high spread at the lows Will be watching out...

TerryHarmonicTrading

I see the volume drying up after price tried to break above this H4 channel. This is a pure channel play and I expect to see lower prices for CADCHF this week. EP: 0.7830-0.7840 SL: 0.7910 TP: 0.7700

TerryHarmonicTrading

Tonight there is USD news. I am expecting USD to weaken, pushing EURUSD back to top of the channel where there could be another low risk short opportunity close to 1.18. Be patient and trade the high probability short setup together next week.

TerryHarmonicTrading Updated 

Early week, I was looking for long opportunities, but I decided to skip because it was a Monday. Now that it is thursday, I am shorting EURJPY on a trend continuation short back towards the low of this week. EP 132.60 SL 133.10 TP1 131.80 TP2 Leave open for now.

TerryHarmonicTrading Updated 

Last 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...

TerryHarmonicTrading

EURJPY has completed a bullish shark pattern. I am looking for a candle close with low/mid volume above 132.10 before I enter long. Last Friday's move down already had exhaustive volume, it looks promising. EP 132.10 SL 131.50 (60) TP 134.50 (240)

TerryHarmonicTrading Updated 

After trading the small shark 2 days ago, I see yet another shark forming on USDJPY. The game plan remains the same. Wait for price to get close to the trendline. Monitor volume for early entry. The safe entry is to wait for breakdown of trendline. Will target 113.40 for initial profit target. SL at 114.35. Will keep you guys posted, I have yet to enter.

TerryHarmonicTrading Updated 

Just spotted a bearish bat completion on GBPCHF. This is a big H4 bat. Will be waiting for a retest before deciding if I will go short on this. I hope to see price retest the PRZ and form a double top first. Then I will monitor the volume indicator to time my entry. Will keep you guys posted.

TerryHarmonicTrading

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...

TerryHarmonicTrading Updated 

Tonight we have CAD news. It is likely to affect USOIL. This is a great setup, shark pattern + nice exhaustion volume at PRZ. The safe way is to wait for break of trendline before shorting. The not so safe way is to short now with stops above $52.80. Should see a minimal move to $51.70. If it breaks the support trendline, we should see a HUGE fall for...

TerryHarmonicTrading Updated 

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...

TerryHarmonicTrading

I see a potential shark completing on GBPAUD. This is on the 4hr chart, therefore it can take awhile. Short term traders can buy on 1 hour pullback to nice support levels. I will be waiting for the big short which could happen late this week or over the next 2 weeks. I will be monitoring the volume indicator when price reaches the PRZ to decide what I will do...

TerryHarmonicTrading Updated 

Apologies 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...

TerryHarmonicTrading Updated 

This 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...

TerryHarmonicTrading

This is a very similar setup as the gbpchf setup I posted awhile ago. This is a shark pattern to go short. But before shorting, some stuff need to happen in the volume indicator. 1. Exhaustion volume (huge big bar) 2. A weak candle with decent vol This can be a great setup if the above happen. Will wait for news at 4.30 and 6.15 to happen first before...

TerryHarmonicTrading

This is a bearish shark pattern setup on GBPCHF. I see it on the M15 timeframe. Today is a heavy news day for the pound. From my observation, I am standing towards more bearishness for GBPCHF. This trade might be executed right after the news at 4.30pm or 6.15pm. These are high probability setups you can watch to execute the trade together with me 1. Extreme...

TerryHarmonicTrading

I see a bullish shark completing in USDJPY around 111.40-111.50. If price drops to this PRZ zone, I will be interested to get long. However I will be watching the vol activity and reaction at that level before entering my trade. Hopefully tradingview is accessible when I am in Shanghai for the next week. Will keep you guys posted, stay tuned!