Harmonic Wave Journal

I'm still after that pattern I mentioned...posting 2 more recent examples from USDJPY and USDCHF.

UJ first. Not sure this is the one I mean 100%, but I'm trying to find similiar ones..

This one looks cleaner on USDCHF

Head and shoulders, this one?

Will see if this setups up a neckline break then or a reversal here...I've really no idea what these really are, anyone who knows - input would be appreciated...

Dito for EW patterns.

Hi SeekingLight, thanks for posting the charts.

Yeah cable looks like h&s altho it's really slanted downwards. This kind of patterns is really common in forex and often deceptive. This last leg of downwave (from 2.0070) is still unclear to me, from that chart it looks like an a-b-c pattern so far. Today I was planning to short from 1.9970 (50% fib) or above, but it never went there, unexpected low retracement!
1 thing that is clear tho; all patterns that you posted today and yesterday are corrective waves, so it's a good guideline for cable pattern this time.

Tomorrow is NFP, we need to brace ourselves for surprises lol.

Friday's recap:
NFP turned out to be relatively moderate mover (not big), as in the case of past few months. It's losing its big mover reputation now. USD got pounded this time. Did some small scalps but they weren't wave trades, like weekly open gap scalps early this week, so not counted in this journal.
Individual pair's recap will be done along with charts later.

Weekly review:
Total trades closed = 4, Winners = 4, Losers = 0
Total gains in winners = 608
Net gain this week: +608

No short-term trades open thru this weekend.

Medium-longterm trades (for trial):
Looks like EUR/USD and Cable will move higher than their previous tops first, so decided to take the first profits after NFP last night at 1.3586 and 1.9916 respectively for +9 and +184. S/Ls were tightened to 1.3681 and 2.0135.

EUR/USD is still correlated to Cable at the moment. Its mini wave (magenta) 4 down has prolly finished and mini wave 5 up (finally?) has started. No confirmation yet in shorter term count.

Related to EUR/USD count above, Cable also might have finished its wave C (or Y) (red) down and started a new impulse wave up.

Opportunity #G12/07
GBP/USD Short
2 parts
Entry: 1.9960
Stop (initial): 2.0010

Subwave 2 down (?). Also an unfilled weekly open gap.

Opportunity #G12/07
GBP/USD Short
2 parts
Entry: 1.9960
Stop (initial): 2.0010

Subwave 2 down (?). Also an unfilled weekly open gap.

Update 1: S/L tightened to 1.9978 (guarantees -18).
Update 2: Set TP1 at 1.9928 for +32. Today is one of the most boring trading day ever. No recap for today. Not much different from last week.

Opportunity #G13/07
GBP/USD Long
3 parts
Entry: 1.9927
Stop (initial): 1.9877

Subwave 3 up (?).

Opportunity #G12/07
GBP/USD Short
2 parts
Entry: 1.9960
Stop (initial): 2.0010

Subwave 2 down (?). Also an unfilled weekly open gap.

Update 1: S/L tightened to 1.9978 (guarantees -18).
Update 2: Set TP1 at 1.9928 for +32. Today is one of the most boring trading day ever. No recap for today. Not much different from last week.
Update 3: TP1 was hit (+32). S/L tightened to 1.9966 (guarantees -6).

Opportunity #E7/07
EUR/USD Long
2 parts
Entry: 1.3560
Stop (initial): 1.3535

Mini mini wave 3 or C up.

Opportunity #G13/07
GBP/USD Long
3 parts
Entry: 1.9927
Stop (initial): 1.9877

Subwave 3 up (?).

Update 1: Exited 1st part at 1.9940 (+13). Taking too long.

Opportunity #E7/07
EUR/USD Long
2 parts
Entry: 1.3560
Stop (initial): 1.3535

Mini mini wave 3 or C up.

Update 1: Stopped out at 1.3535 (-25 x2). Invalid wave count. Will prolly look for re-entry later.

Total gain: -50

Opportunity #G12/07
GBP/USD Short
2 parts
Entry: 1.9960
Stop (initial): 2.0010

Subwave 2 down (?). Also an unfilled weekly open gap.

Update 1: S/L tightened to 1.9978 (guarantees -18).
Update 2: Set TP1 at 1.9928 for +32. Today is one of the most boring trading day ever. No recap for today. Not much different from last week.
Update 3: TP1 was hit (+32). S/L tightened to 1.9966 (guarantees -6).
Update 4: S/L tightened to 1.9945 (guarantees +15).

Tuesday's recap:
Forgot to do recap last night. Unexpected bearish turns on EUR/USD and Cable. Well for Cable it was pretty much seen because of the triangle formed in m5 before the dive from 1.9941. Wrong wave count in EUR/USD. USD/JPY and GBP/JPY are still uncertain. A bad day for wave trades.

Hi!

While we could of course be in some sort of complex corrective wave, I'm just not smart enough for those

The simple ABC that I know would suggest this here, so I thought I'd ask the more progressive wave adept what he thinks

Hi SeekingLight,

I think I'm more confused than you now lol.
2 choices for cable imo: reaching 1.9975 or 1.9841 first. Your FE 100 will be next target if 1.9841 is breached first. If cable chooses to hit 1.9975 then wave C down might have already finished at 1.9842. Maybe the triple interest rate statements this week would provide the answer.

Opportunity #G13/07
GBP/USD Long
3 parts
Entry: 1.9927
Stop (initial): 1.9877

Subwave 3 up (?).

Update 1: Exited 1st part at 1.9940 (+13). Taking too long.
Update 2: S/L tightened to 1.9890 (guarantees -37). Price came within 2 pips of stop last night. FOMC rate statement tonight + BoE + ECB tomorrow will prolly finally provide a breakout.

Opportunity #G13/07
GBP/USD Long
3 parts
Entry: 1.9927
Stop (initial): 1.9877

Subwave 3 up (?).

Update 1: Exited 1st part at 1.9940 (+13). Taking too long.
Update 2: S/L tightened to 1.9890 (guarantees -37). Price came within 2 pips of stop last night. FOMC rate statement tonight + BoE + ECB tomorrow will prolly finally provide a breakout.
Update 3: Breakout to the upside! Took 2nd profit at 1.9996 (+69). S/L tightened to 1.9917 (guarantees -10).