Trade closed with gain of 1:2.5 (Risk:Reward). I should have waited for my TP to be hit but I closed it anyway, you know what the say "a fish at hand is worth more than a thousand in the ocean." I am watching so many pairs with great opportunities right now.
{image}{quote} I am still on the side line but this is exactly my plan that way the risk would be so small and the reward huge Edit: since I'm home now I'd like to take this trade manually so all sell limits closed
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I took and exited this trade with little gain which is not my style of trading but i will tell you why........
{quote} I took and exited this trade with little gain which not my style of trading but i will tell you why........ {image}
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Here is why I exited very early, a look at the monthly TF shows a head and shoulders pattern in play. so, there is more room for the USD to go further north and with NFP and a possible rate hike on the table the dollar has all the mojo it needs to go that high. so I will let this pattern pass and remain on the sideline now
Here is something I also have my eyes on on UC Daily TF. Price just entered the PRZ of the newly completed Shark pattern in this ascending channel and I must confess I love these opportunities I'm seeing all over the place. What a time to be a harmonic trader!
{quote} I've been waiting for price at the PRZ for over a month now on this pair. As always I am not in a hurry to jump into any trade now especially on any pair from Europe. If I bought GBP then it most be at a very cheap rate. {image}
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Isn't she a beauty to behold? The more I wait the cheaper she becomes. There is something about price, It just like a woman the more you chase the faster they run but when you ignore them they come cheaply and do the wooing themselves. Price is wooing me right now in the PRZ.
{quote} Here is why I exited very early, a look at the monthly TF shows a head and shoulders pattern in play. so, there is more room for the USD to go further north and with NFP and a possible rate hike on the table the dollar has all the mojo it needs to go that high. so I will let this pattern pass and remain on the sideline now {image}
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The Dollar is really strong and it keeps getting stronger day by day but, there isn't anything happening now that is not been properly measured by harmonic. From the Monthly TF you can see that AB=CD and head and shoulders patterns are in play here. Be it inflation, rate hike, extreme sanctions and counter sanctions or whatever are all acting as a catalyst here. If the dollar goes this high against the yen into the PRZ, then I will just shot it and forget about this pair for years.
{quote} The Dollar is really strong and it keeps getting stronger day by day but, there isn't anything happening now that is not been properly measured by harmonic. From the Monthly TF you can see that AB=CD and head and shoulders patterns are in play here. Be it inflation, rate hike, extreme sanctions and counter sanctions or whatever are all acting as a catalyst here. If the dollar goes this high against the yen into the PRZ, then I will just shot it and forget about this pair for years. {image}
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By the time price may get to the PRZ the US economy may probably be in recession and that could be one of the catalyst that would bring down the USD. So, whatever happens is left to policy formulator. so that is up to them, I'm just a trader! So i will not predict anything, I will continue identifying patterns and following price actions, any other thing is secondary. Making bank is my only priority.
NFP dust has settled, I deliberately stayed away from trading since I manually closed my EA trade. I just took EG trade on the daily TF, If price spikes up I will add more positions but for now this is okay. Shark pattern is in play here.
Bias: Bearish
Risk: Reward 1:2 (61.8 Fib. retracement level)
Themes: Both the EU and the UK are in a similar mess
NFP dust has settled, I deliberately stayed away from trading since I manually closed my EA trade. I just took EG trade on the daily TF, If price spikes up I will add more positions but for now this is okay. Shark pattern is in play here. Bias: Bearish Risk: Reward 1:2 (61.8 Fib. retracement level) Themes: Both the EU and the UK are in a similar mess {image}
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I have been watching this one too my friend. I haven't entered just yet ......waiting for behavior
Hello Row, as it is, price may come back to the prz if that happens I may add some shots but if it continues this way I will just go with the flow. I don't like my entry I should have sold when the risk was minimal. I will hold and see what happens, London open should give a hint on things to come.
NFP dust has settled, I deliberately stayed away from trading since I manually closed my EA trade. I just took EG trade on the daily TF, If price spikes up I will add more positions but for now this is okay. Shark pattern is in play here. Bias: Bearish Risk: Reward 1:2 (61.8 Fib. retracement level) Themes: Both the EU and the UK are in a similar mess {image}
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Closed: reason was I did not follow my trading plan, I risk more amount of money than I should which's against my trading rule, so i'm out with little profit
Ola Traders Guys appreciate your point of view /constructive criticism of the above Bank! Above AUD H4 Bullish gartley {image}
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Hi, It's good but your risk is so hi. There is so much room for this pair to head down and retest the previous support. While you're seeing Gartley which is correct I am also seeing a shark pattern on the daily. If I were you, I will exit this trade with the profit you've got and wait for price at the prz. Please do a top down analysis
{quote} Hi, It's good but your risk is so hi. There is so much room for this pair to head down and retest the previous support. While you're seeing Gartley which is correct I am also seeing a shark pattern on the daily. If I were you, I will exit this trade with the profit you've got and wait for price at the prz. Please do a top down analysis {image}
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Shark and AB=CD patterns forming, both sharing a PRZ. Bank holiday is affecting this pair, tomorrow may give us a clearer price action
{quote} Shark and AB=CD patterns forming, both sharing a PRZ. Bank holiday is affecting this pair, tomorrow may give us a clearer price action {image}
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I share similar thought my friend except I see price blowing through that price zone from my top-down analysis. In fact, I was looking at this bay shark on the 1 hr time frame
{quote} I share similar thought my friend except I see price blowing through that price zone from my top-down analysis. In fact, I was looking at this bay shark on the 1 hr time frame {image}
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The usd is on drug, the last time I saw extreme currency strength this strong was during covid. I ought to have taken GU trade since but since the fundamental does not align with my technical analysis I am still on the sideline waiting for a formation of support of some sort. Establishment of support would help me to properly evaluate my risk.
