Harmonic Wave Journal

Opportunity #E18/07 (re-entry)
EUR/USD Long
3 parts
Entry: 1.3275
Stop (initial): 1.3235

End of mini wave 5 down, end of subwave Z of wave 4 (?).

Update 1: Limit was hit and trade is open. S/L tightened to 1.3287 (guarantees -18).
Update 2: Stopped out for -36. Re-entry at 1.3275, initial stop at 1.3235.
Update 3: S/L tightened to 1.3266 (guarantees -9). Took 1st profit at 1.3303 (+28).
Update 4: Set TP2 at 1.3345 for +70.
Update 5: S/L tightened to 1.3290 (guarantees +15).

Opportunity #G24/07
GBP/USD Long
3 parts
Entry: 1.9684
Stop (initial): 1.9634

Subwave C of wave 2 up (?).

Update 1: Took 1st profit at 1.9720 (+36). S/L tightened to 1.9686 (guarantees +2).
Update 2: Set TP2 at 1.9770 for +86.
Update 3: Stopped out at 1.9686 (+2 x2). It bounced back up right after that.

Total gain: +40

Opportunity #E18/07 (re-entry/2nd attempt)
EUR/USD Long
3 parts
Entry: 1.3280
Stop (initial): 1.3263

End of mini wave 5 down, end of subwave Z of wave 4 (?).

Update 1: Limit was hit and trade is open. S/L tightened to 1.3287 (guarantees -18).
Update 2: Stopped out for -36. Re-entry at 1.3275, initial stop at 1.3235.
Update 3: S/L tightened to 1.3266 (guarantees -9). Took 1st profit at 1.3303 (+28).
Update 4: Set TP2 at 1.3345 for +70.
Update 5: S/L tightened to 1.3290 (guarantees +15).
Update 6: Stopped out at 1.3290 (+15 x2). Final re-entry at 1.3280, initial stop at 1.3263.

Opportunity #G25/07
GBP/USD Long
3 parts
Entry: 1.9661
Stop (initial): 1.9611

Still subwave C of wave 2 up (?).

Opportunity #E18/07 (re-entry/2nd attempt)
EUR/USD Long
3 parts
Entry: 1.3280
Stop (initial): 1.3263

End of mini wave 5 down, end of subwave Z of wave 4 (?).

Update 1: Limit was hit and trade is open. S/L tightened to 1.3287 (guarantees -18).
Update 2: Stopped out for -36. Re-entry at 1.3275, initial stop at 1.3235.
Update 3: S/L tightened to 1.3266 (guarantees -9). Took 1st profit at 1.3303 (+28).
Update 4: Set TP2 at 1.3345 for +70.
Update 5: S/L tightened to 1.3290 (guarantees +15).
Update 6: Stopped out at 1.3290 (+15 x2). Final re-entry at 1.3280, initial stop at 1.3263.
Update 7: LOL already got 1st part at 1.3313 (+33). S/L tightened to 1.3288 (guarantees +8).

Opportunity #G25/07
GBP/USD Long
3 parts
Entry: 1.9661
Stop (initial): 1.9611

Still subwave C of wave 2 up (?).

Update 1: Same case, 1st part out at 1.9692 (+31). S/L tightened to 1.9667 (guarantees +6).

Hi T, looks like you still got the big picture in play, long term bull, short term weakness, Buying on dip. Well done. Stick to your good plan.

I would look at NZD and AUD too if you are just getting EUR and GBP. Down under looks more resilient recently (As compared to the west).

Hi Barak, actually in longer term picture EUR and GBP start to look abit bearish. Well maybe it's a trap but we'll see. USD in general is getting bullish now. All the best to your trades.

Opportunity #E18/07 (re-entry/2nd attempt)
EUR/USD Long
3 parts
Entry: 1.3280
Stop (initial): 1.3263

End of mini wave 5 down, end of subwave Z of wave 4 (?).

Update 1: Limit was hit and trade is open. S/L tightened to 1.3287 (guarantees -18).
Update 2: Stopped out for -36. Re-entry at 1.3275, initial stop at 1.3235.
Update 3: S/L tightened to 1.3266 (guarantees -9). Took 1st profit at 1.3303 (+28).
Update 4: Set TP2 at 1.3345 for +70.
Update 5: S/L tightened to 1.3290 (guarantees +15).
Update 6: Stopped out at 1.3290 (+15 x2). Final re-entry at 1.3280, initial stop at 1.3263.
Update 7: LOL already got 1st part at 1.3313 (+33). S/L tightened to 1.3288 (guarantees +8).
Update 8: Set TP2 at 1.3350 for +70.

Opportunity #G25/07
GBP/USD Long
3 parts
Entry: 1.9661
Stop (initial): 1.9611

Still subwave C of wave 2 up (?).

Update 1: Same case, 1st part out at 1.9692 (+31). S/L tightened to 1.9667 (guarantees +6).
Update 2: Set TP2 at 1.9745 for +84.

Opportunity #E18/07 (re-entry/2nd attempt)
EUR/USD Long
3 parts
Entry: 1.3280
Stop (initial): 1.3263

End of mini wave 5 down, end of subwave Z of wave 4 (?).

Update 1: Limit was hit and trade is open. S/L tightened to 1.3287 (guarantees -18).
Update 2: Stopped out for -36. Re-entry at 1.3275, initial stop at 1.3235.
Update 3: S/L tightened to 1.3266 (guarantees -9). Took 1st profit at 1.3303 (+28).
Update 4: Set TP2 at 1.3345 for +70.
Update 5: S/L tightened to 1.3290 (guarantees +15).
Update 6: Stopped out at 1.3290 (+15 x2). Final re-entry at 1.3280, initial stop at 1.3263.
Update 7: LOL already got 1st part at 1.3313 (+33). S/L tightened to 1.3288 (guarantees +8).
Update 8: Set TP2 at 1.3350 for +70.
Update 9: S/L tightened to 1.3301 (guarantees +21).

Opportunity #E18/07 (re-entry/2nd attempt)
EUR/USD Long
3 parts
Entry: 1.3280
Stop (initial): 1.3263

End of mini wave 5 down, end of subwave Z of wave 4 (?).

Update 1: Limit was hit and trade is open. S/L tightened to 1.3287 (guarantees -18).
Update 2: Stopped out for -36. Re-entry at 1.3275, initial stop at 1.3235.
Update 3: S/L tightened to 1.3266 (guarantees -9). Took 1st profit at 1.3303 (+28).
Update 4: Set TP2 at 1.3345 for +70.
Update 5: S/L tightened to 1.3290 (guarantees +15).
Update 6: Stopped out at 1.3290 (+15 x2). Final re-entry at 1.3280, initial stop at 1.3263.
Update 7: LOL already got 1st part at 1.3313 (+33). S/L tightened to 1.3288 (guarantees +8).
Update 8: Set TP2 at 1.3350 for +70.
Update 9: S/L tightened to 1.3301 (guarantees +21).
Update 10: Took 2nd profit at 1.3342 (+62). S/L tightened to 1.3334 (guarantees +54).

Opportunity #G25/07
GBP/USD Long
3 parts
Entry: 1.9661
Stop (initial): 1.9611

Still subwave C of wave 2 up (?).

Update 1: Same case, 1st part out at 1.9692 (+31). S/L tightened to 1.9667 (guarantees +6).
Update 2: Set TP2 at 1.9745 for +84.
Update 3: Took 2nd profit at 1.9740 (+79). S/L tightened to 1.9738 (guarantees +77).

Looks like we are on our way to the high 9800's.. and we did get to the mid 9600's too. what time frame are you using mainly..

Opportunity #E18/07 (re-entry/2nd attempt)
EUR/USD Long
3 parts
Entry: 1.3280
Stop (initial): 1.3263

End of mini wave 5 down, end of subwave Z of wave 4 (?).

Update 1: Limit was hit and trade is open. S/L tightened to 1.3287 (guarantees -18).
Update 2: Stopped out for -36. Re-entry at 1.3275, initial stop at 1.3235.
Update 3: S/L tightened to 1.3266 (guarantees -9). Took 1st profit at 1.3303 (+28).
Update 4: Set TP2 at 1.3345 for +70.
Update 5: S/L tightened to 1.3290 (guarantees +15).
Update 6: Stopped out at 1.3290 (+15 x2). Final re-entry at 1.3280, initial stop at 1.3263.
Update 7: LOL already got 1st part at 1.3313 (+33). S/L tightened to 1.3288 (guarantees +8).
Update 8: Set TP2 at 1.3350 for +70.
Update 9: S/L tightened to 1.3301 (guarantees +21).
Update 10: Took 2nd profit at 1.3342 (+62). S/L tightened to 1.3334 (guarantees +54).
Update 11: Took last profit at 1.3374 (+94). Trade is closed.

Total gain: +211

Opportunity #G25/07
GBP/USD Long
3 parts
Entry: 1.9661
Stop (initial): 1.9611

Still subwave C of wave 2 up (?).

Update 1: Same case, 1st part out at 1.9692 (+31). S/L tightened to 1.9667 (guarantees +6).
Update 2: Set TP2 at 1.9745 for +84.
Update 3: Took 2nd profit at 1.9740 (+79). S/L tightened to 1.9738 (guarantees +77).
Update 4: Took last profit at 1.9777 (+116). Trade is closed. This week is done for me.

Total gain: +226

Hey fixme, I use 30-min or hourly for short term trades mainly. For the medium-long, I use daily or weekly, rarely tho. Yeah I guess cable might hit thru 1.9800 early next week, then fall again. Same case for EUR/USD also I think.

My view as well chat later keep up the good work.....

Weekly review and recap:

Total trades closed = 4, winners = 3, losers = 1
Total gain in winners = 477, total loss in losers = 6
Net gain this week = +471

No short term trade carried thru this weekend.

Medium-long term trades:
EUR/USD Short from 1.3595 at around +210, GBP/USD Short from 2.0100 at around +340.

A pretty messy week to start with, but ended well. Cable is prolly forming a corrective a-b-c wave 2 or B now, instead of subwave 4 in previous count, targetting above 1.9800. EUR/USD might have finished its subwave Z down and in a new impulse up, final wave 5 up, finally?
USD/JPY apparently retraced only abit and thrusted upwards in a powerful wave, hence a re-count is made for it. Above 125 is imminent this month. GBP/JPY also decided to have an extension in its wave 5 up, a common case for this monster.
Charts will be updated later.

Enjoy your weekend everyone.

Cable is still in its big wave C down, with its wave (red) 2 or B up in progress. Possible target is 1.9830-35 before going down.

It might be at the start of final wave (red) 5 up, with its subwave (orange) 1 is still ongoing. Can't rule out a possibility of the wave to be wave B up instead tho (with its subwave A ongoing).

Bravo for USD/JPY. It resumed the rally without much retracement, apparently making an expansion in its big wave 3 up, with its wave (red) 5 ongoing. Above 125 is a possible target for wave 5.

GBP/JPY with its extended wave (red) 5, as common in this pair. Its subwave (orange) 3 is ongoing, with possible targets at 245.15 or 246.25.

Good luck to everyone next week.

Since many people talk about USD/CAD, so I might as well give opinions abit. What a straight crazy rally. Possible retracement to test last year's low at 1.0928 again for subwave (orange) 4 before doing its final rally.

Another great week, thanks for your posting trades and charts.
Cheers