Ratios & Harmonics: a Different Way to Trade
EJ [M15 chart] {image} Long entry........... If price breaks down to the lower red line then I'll exit the trade..... Masterrmind............
EJ [M15 chart] {image} I'm now short EJ Masterrmind...........
Short EU and EJ............. EURUSD [M15 chart]........ short {image} EURJPY [M15 chart]........ short {image} Masterrmind............
GU M15 {image} If the bears start showing strength then my expectations are for price to pull back and test the level represented by the red line. Timing the entry of the trade is important Masterrmind...........
{quote} GU-update The bulls are steadily taking price higher.... Not looking at going long at this stage ..... if bulls continue pushing price up then I'll be looking at trading opportunities around the 151.500 area...... No immediate short entry unless I see some strong bearish intent..... Masterrmind...........
{quote} GU- Update {image} Entered GU short........ SL relatively tightly placed as the preference would be the other side of resistance BUT not in this trade (it is an aggressive entry) If the bulls return I'll close out the trade.......... Masterrmind............
I've not really had much time to trade this week, but this short opportunity on the EURUSD caught my eye. It is against the longer term orderflow, hence the delayed entry. There was deceleration into an area of structure (higher TF) plus fib confluence. 2 attempts to push through resulted in failure. Entry was after the strong bearish candle which pushed back through the pivot point. I expect strong support at/around 1.08000. I'll be keeping a tight leash on this one because it is against the bulls who have dominated since London open. Time for...
{quote} Just to wrap this one up. I headed off to bed after seeing the LH (I trade tick charts, so those bars took a long time to form during the asian session!). I set a TP at the original expectation (a test of 1.08000 which would hold) and then
{quote} GU trade Price currently locked in a zone of consolidation Expectation is still for price to break down........ Masterrmind...........
{quote} GU - trade {image} SL placement just out of harms way...will tighten it up more as soon as the trade moves a little more in my favor.... Bears starting to enter........ Masterrmind..........
