{quote} 7 sell limits triggered. At this point I don't know if price may go back and trigger the other limits, but if it does/doesn't i'm okay with what I have got there is always another trade. so, no need/room for worries. price has left the bus station (PRZ)... If price breaks through TP1, then we have a butterfly and a double tops patterns in play here, that should give anyone more confidence to hold this trade for a while. {image}
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congratulation to all that took this trade, still in progress. EURUSDH1
I will be closing all my trade this week because i want to change my broker. Whatever maybe the outcome of your trading this week, be it good or bad be encourage for another week is coming. I am leaving you with this song to put you in good mood ahead of next week. Guys here is "The Harmonic rhythm of the market." Enjoy
{quote} Why you sell EU but buy AU? I think xxxUSD move the same way?
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I thought so too just that our thought are not always right when it comes to dealing with the market. Trading is an act of probability, always know that even when you think you're doing what is right, the outcome may not always favour.
So, why did I buy and sell USD? Because I got the signal I needed and you can see from the charts that they both did well.
Any thought on whether the PRZ is at the right place? {image}
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The pattern is a bearish Gartley. GBPCAD is retesting a previous low on the weekly and appeared to have found some support. Previous low was also tested twice on the 4hr and failed.
Congratulation to those that took this bearish trade when I posted it, target was hit since last week. so, you have no reason to hold any longer.
@Row,
A new pattern has emerged at the completion of our previous trade. On the Chart we have a shark Pattern (5-0) for the whole of this week and beyond to trade.
Signals I watch out for before any trade: At the completion of any pattern there is always an immediate candle (bullish/bearish) rejection i.e the Bullish rejection candle at point D in the chart below {the one the white and red arrows are pointing at}. another thing is price action. You must always ambush price at the potential reversal zone (PRZ), Just like lion ambushes prey. lions don't chase price like the cheaters do.
In harmonic, we hunt just like the lions we wait in ambush at the PRZ (rectangular box in the chart) to catch price unaware. We don't chase price allover the place because that exposes us to more risk. you will mix more trading opportunity by always wanting to take your trade from the prz but, doing so gives you an added advantage of taking trade with higher probability of success.
Where should the Stop loss be: your stop loss should always be below the PRZ look to the left of price action and always consider the support/resistance around the PRZ. check attached EURAUD, Daily chart for more.
{quote} The pattern is a bearish Gartley. GBPCAD is retesting a previous low on the weekly and appeared to have found some support. Previous low was also tested twice on the 4hr and failed. {image} {image} {image}
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Unfortunately I don't trade GC so, I don't have the chart to check what you've drawn. But see the post above for answers to your questions
EU update and a new pattern for the week. On the butterfly pattern price has hit TP1 and TP2 and approaching TP3. Now price is in the PRZ for the small Bat pattern with a white lines but, there is also a bigger bat pattern with with the orange lines. While my bias is bullish, i'm still expecting TP3 to be hit that is the more reason why I will ignore the smaller bat pattern for now and price may head north from the PRZ but i am not willing to risk any huge draw down now. so, will continue to watch price action on the sideline
