Trader_Joe_Lee

Trader_Joe_Lee Updated 

Definition: Shooter = 2 inside bars in a row , then use the latest one as the trade set-up EURUSD was crazy this morning, every short seller for any kinds of set-ups probably suffered short squeeze. For me, to long EURUSD is such a high level? Why not! All I need is a reasonable risk-reward set-up to get involved, even if it failed it's controllable...

Trader_Joe_Lee Updated 

USDCHF completed the bat pattern today, to trade the bat perfectly we'll have to risk about 100pips. While like how I applied harmonic pattern these days, I'll wait for the following potential reversal sign to long USDCHF rather than put a buy limit to fight with the trend. 1. Significant inside bar breakout 2. Hammer 3. Double bottom Not only on the daily chart...

Trader_Joe_Lee Updated 

GBPUSD got rocked after their economic numbers, and here is a great example for 2-way inside bar trade. The 30min inside bar comes after the huge movement and it very extended, while it gave the market time to think again"are the numbers really that bad?". Therefore, whether direction it broke provide potential trading setup. If it breaks to the downside, the...

Trader_Joe_Lee

Inside bar setups work the best when there is momentum, and momentum comes from news, fundamental events, chart patterns, short squeezing, and many other ways. The 2 inside 4hr bars for AUD/USD implied great risk-reward ratio! 1st one only 25pips risk and gave an 150 pips move; 2nd one only 10 pips risk and gave an 90 pips move! The larger the time frame, the...

Trader_Joe_Lee Updated 

This page is all about inside bars and harmonic patterns, and I got 1 potential trade that is in line with 2 of the strategy! USDCAD completed a huge Cypher pattern, while like what I said on COST (another harmonic + inside day breakout combination yesterday), I believe harmonic pattern needs to go with reversal/retracement sign rather than just put an anti-trend...

Trader_Joe_Lee Updated 

Yesterday, the NZD/JPY bat was an awesome short, and EUR/USD formed another bat after yesterday's rally. In terms of harmonic pattern, the out is above 1.16, more than 100 pips from the current price. Accordingly, as I don't really want to risk that much, I may keep the bearish case in mind and still wait for a strong reversal sign as a confirmation to short....

Trader_Joe_Lee

COST is still under huge selling pressure after another downgrade by BMO on Monday, and as I wrote last week, I've waited quite a while for a good entry for the company. Although I didn't really trade it,last week the BAT pattern failed as it gave such a small room for the stock to run. While when the X @ 156.59 broke, it did give good short continuation to make...

Trader_Joe_Lee

Let's start from the beginning... My Inside bar trade will be: Entry: put buy/sell stop @ 1 cent above/below an inside bar that formed after an important level or a huge price movement to long/short. out: for long, 1 cent below inside bar low; for short, 1 cent above inside bar high 1st Price target: put half of the position off by limit order at 1:1 to the...

Trader_Joe_Lee

To begin with, yesterday was an inside day for USOIL and it broke to the downside . An inside day breaking to the downside may be a trade itself or a bearish view to find smaller time frame set-ups to short. In terms of hourly chart, almost all inside hour short set-ups worked! Inside bar is a great strategy to be involved with a trend by very little risk, so...

Trader_Joe_Lee

According to the chart, there is a Bat pattern on COST and it suggests a 159.63 (0.886XA); while the trade may already fail if you traded it perfectly right to give the out to 1cent below X(156.59). I've waited for a while for an actionable set-up to long COST, and I believe it's coming soon. In my opinion, COST is a kind of company that is both great for...

Trader_Joe_Lee

Based on the daily chart, there are 2 potential trades to long XAUUSD with similar entry points: (1) Inside day and up XAUUSD gave an inside day yesterday with a 1226.39 high and 1220.06 low; it already broke to the upside which may lead to price correction to 21EMA @ 1245 so its entry could be @ 1226.45 and out @ 1219.95, put half of the position sell limit @...

Trader_Joe_Lee

NASDAQ:NVDA According to daily chart, NVDA has a potential buying opportunity between 134.77 - 135.92 (0.786 XA @ 134.77 / AB=CD @ 135.15 / 0.786AB @ 135.92 ) It could be a valid trade to put 1/3 of the limit orders at the different 3 prices with a stop loss point @ 126.99 , about 7% risk. 1st target price will be @ 0.382AD, which will be around 147;...