Harmonic Wave Journal

Trying to translate this into the current weekly EURUSD..

We either retrace only 50%ish and make that II before rallying off to 1.4 or we make a head and shoulders and put in a top here..

Weekly review and recap:

Total trades closed = 3, winners = 2, 1 breakeven
Net gain this week = +223

No trade open thru this weekend.

What a sideways week. Consolidation period for the majors and major crosses. Cable's count is not clear now, but it seems to form a descending triangle/diagonal from 2.0652 top. Other pairs' recaps are below together with charts.

EUR/USD is in subwave (orange) C down now, sparked by the ECB intervention last Thurs. There's a possibility of a formation of a triangle, with 3 waves A-B-C already finished.

USD/JPY might have finished its big wave A (or 1?) down and at the beginning of big wave B up. Quite ambiguous count around this area.

GBP/JPY is still resuming its very big wave 4 correction, with wave (red) 3 or C down in progress (?). Quite in a contrast with USD/JPY count above, maybe something's wrong here. Only wave A has finished so far? We'll see.

Thanks for the charts, SeekingLight. Let's wait for EUR/USD to finish its uptrend first now, then we can get a clear count. I have same count with your 5.1 to 5.5 (which prolly hasn't finished yet), an ending diagonal.

That USD/CAD count above looks fine, if the wave 4 doesn't enter wave 1 area.

Alright, good luck to everyone next week.

Opportunity #G35/07
GBP/USD Long
3 parts
Entry: 2.0086
Stop (initial): 2.0036

End of subwave 3 (or C) of C (?).

Had my first "normal" C end at around 1.9990. Currently seems to be pausing here, but no hardcore turnaround just yet :S

USDJPY / Yens migh be initiating a rise from here possibly however.

Opportunity #G35/07 (re-entry)
GBP/USD Long
3 parts
Entry: 1.9968
Stop (initial): 1.9918

End of subwave 3 (or C) of C (?).

Update 1: Blown out for a full -150. Re-entry attempt at 1.9968, initial stop at 1.9918. Set TP1 at 2.0008 for +40. S/L will move to 1.9962 once TP1 is hit.

Opportunity #G35/07 (re-entry/2nd attempt)
GBP/USD Long
4 parts
Entry: 1.9810
Stop (initial): 1.9760

End of subwave 3 (or C) of C (?).

Update 1: Blown out for a full -150. Re-entry attempt at 1.9968, initial stop at 1.9918. Set TP1 at 2.0008 for +40. S/L will move to 1.9962 once TP1 is hit.
Update 2: Blown again for -150. Last attempt at 1.9810, initial stop at 1.9760. Set TP1 at 1.9850 for +40. S/L will move to 1.9800 once TP1 is hit. Cable's medium-longterm trend is changing to down now.

Opportunity #GJ5/07
GBP/JPY Long
4 parts
Entry: 229.58
Stop (initial): 228.78

End of wave C down (?).

Already took 1st profit at 230.30 for +72, it's so volatile. S/L tightened to 229.48 (guarantees -10).

Opportunity #G35/07 (re-entry/2nd attempt)
GBP/USD Long
4 parts
Entry: 1.9810
Stop (initial): 1.9760

End of subwave 3 (or C) of C (?).

Update 1: Blown out for a full -150. Re-entry attempt at 1.9968, initial stop at 1.9918. Set TP1 at 2.0008 for +40. S/L will move to 1.9962 once TP1 is hit.
Update 2: Blown again for -150. Last attempt at 1.9810, initial stop at 1.9760. Set TP1 at 1.9850 for +40. S/L will move to 1.9800 once TP1 is hit. Cable's medium-longterm trend is changing to down now.
Update 3: TP1 was hit. S/L moved to 1.9805 (guarantees -5).

Opportunity #GJ5/07 (re-entry)
GBP/JPY Long
4 parts
Entry: 221.66
Stop (current): breakeven

End of wave C down (?).

Already took 1st profit at 230.30 for +72, it's so volatile. S/L tightened to 229.48 (guarantees -10).

Update 1: Stopped out at 229.48 for -10 x3. Re-entry at 221.66 with stop already set at breakeven. Took 1st profit at 223.02 (+136). Hit 50% fibo retracement of the very big wave 3

Opportunity #G35/07 (re-entry/2nd attempt)
GBP/USD Long
4 parts
Entry: 1.9810
Stop (initial): 1.9760

End of subwave 3 (or C) of C (?).

Update 1: Blown out for a full -150. Re-entry attempt at 1.9968, initial stop at 1.9918. Set TP1 at 2.0008 for +40. S/L will move to 1.9962 once TP1 is hit.
Update 2: Blown again for -150. Last attempt at 1.9810, initial stop at 1.9760. Set TP1 at 1.9850 for +40. S/L will move to 1.9800 once TP1 is hit. Cable's medium-longterm trend is changing to down now.
Update 3: TP1 was hit. S/L moved to 1.9805 (guarantees -5).
Update 4: Stopped for -5 x3. No re-entry again for now.

Total gain: -275

Opportunity #GJ5/07 (re-entry)
GBP/JPY Long
4 parts
Entry: 221.66
Stop (current): breakeven

End of wave C down (?).

Already took 1st profit at 230.30 for +72, it's so volatile. S/L tightened to 229.48 (guarantees -10).

Update 1: Stopped out at 229.48 for -10 x3. Re-entry at 221.66 with stop already set at breakeven. Took 1st profit at 223.02 (+136). Hit 50% fibo retracement of the very big wave 3
Update 2: Took 2nd profit at 224.80 (+314). S/L tightened to 223.26 (guarantees +160).

Opportunity #GJ5/07 (re-entry)
GBP/JPY Long
4 parts
Entry: 221.66
Stop (current): breakeven

End of wave C down (?).

Already took 1st profit at 230.30 for +72, it's so volatile. S/L tightened to 229.48 (guarantees -10).

Update 1: Stopped out at 229.48 for -10 x3. Re-entry at 221.66 with stop already set at breakeven. Took 1st profit at 223.02 (+136). Hit 50% fibo retracement of the very big wave 3
Update 2: Took 2nd profit at 224.80 (+314). S/L tightened to 223.26 (guarantees +160).
Update 3: Took 3rd profit at 227.06 (+540). S/L tightened to 223.60 (guarantees +194).

Opportunity #GJ5/07 (re-entry)
GBP/JPY Long
4 parts
Entry: 221.66
Stop (current): breakeven

End of wave C down (?).

Already took 1st profit at 230.30 for +72, it's so volatile. S/L tightened to 229.48 (guarantees -10).

Update 1: Stopped out at 229.48 for -10 x3. Re-entry at 221.66 with stop already set at breakeven. Took 1st profit at 223.02 (+136). Hit 50% fibo retracement of the very big wave 3
Update 2: Took 2nd profit at 224.80 (+314). S/L tightened to 223.26 (guarantees +160).
Update 3: Took 3rd profit at 227.06 (+540). S/L tightened to 223.60 (guarantees +194).
Update 4: Stopped out for +194.

Total gain: +1226

Opportunity #E23/07
EUR/USD Short
3 parts
Entry: 1.3545
Stop (initial): 1.3585

End of mini wave 4 up (?).

Opportunity #E23/07
EUR/USD Short
3 parts
Entry: 1.3545
Stop (initial): 1.3585

End of mini wave 4 up (?).

Update 1: Took 1st profit at 1.3490 (+55). S/L tightened to 1.3540 (guarantees +5).

Honest to god, I have no idea how you catch those entries(high was 1.3546)