tag:blogger.com,1999:blog-81953278834012255142024-02-20T16:25:24.688+08:00Harmonic TradingTrade Harmonic Patterns Successfullyadminhttp://www.blogger.com/profile/09819943200638907044noreply@blogger.comBlogger34125tag:blogger.com,1999:blog-8195327883401225514.post-58839771798968850942011-10-11T10:13:00.000+08:002011-10-11T10:13:39.563+08:00CHFJPY H1 Bearish Bat Pattern - 11 Oct 2011<b>11 Oct 2011</b><br />
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<a href="http://4.bp.blogspot.com/-TUyMO4K0o78/TpOllNyaibI/AAAAAAAAAME/ZZ4AQ9ywH-A/s1600/chfjpy+h1+bearish+bat.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="160" src="http://4.bp.blogspot.com/-TUyMO4K0o78/TpOllNyaibI/AAAAAAAAAME/ZZ4AQ9ywH-A/s320/chfjpy+h1+bearish+bat.gif" width="320" /></a></div>
Bearish Bat pattern on CHFJPY hourly chart. This pattern is validate by 38.2% retracement of XA at B point and 88.6% retracement of AB at C point.<br />
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<b><u>PRZ :</u></b><br />
- 0.886XA @85.631<br />
- 2.24BC @85.510<br />
- 1.618AB=CD @85.050adminhttp://www.blogger.com/profile/09819943200638907044noreply@blogger.com2tag:blogger.com,1999:blog-8195327883401225514.post-88065739913819272632011-10-11T10:08:00.000+08:002011-10-11T10:08:13.304+08:00USDCHF H1 Bullish Bat Pattern - 11 Oct 2011<b>11 Oct 2011</b><br />
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Bullish Bat pattern on USDCHF hourly chart. This pattern is validate by 38.2% retracement of XA at B point and 78.6% retracement of AB at C point.<br />
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PRZ :<br />
- 0.886XA @0.89620<br />
- 2.24BC @0.89705<br />
- 1.618AB=CD @0.90056.<br />
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Convergence of all important PRZ level at 0.8960-0.9005 give best opportunity to go long on this pair once the price action test the PRZ zone.adminhttp://www.blogger.com/profile/09819943200638907044noreply@blogger.com0tag:blogger.com,1999:blog-8195327883401225514.post-48845926918558095192011-08-19T00:01:00.002+08:002011-08-23T09:50:58.855+08:00EURGBP H1 Bullish Gartley Pattern - 18 Aug 2011<b>18 Aug 2011</b><br />
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<a href="http://2.bp.blogspot.com/-pOK6PxTTgGQ/Tk02IYM29oI/AAAAAAAAALw/1OfBGxkIZmE/s1600/eurgbp+h1+bullish+gartley+pattern.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://2.bp.blogspot.com/-pOK6PxTTgGQ/Tk02IYM29oI/AAAAAAAAALw/1OfBGxkIZmE/s320/eurgbp+h1+bullish+gartley+pattern.gif" width="320" /></a></div>
<b>Bullish Gartley Pattern On EURGBP Hourly Chart.</b><br />
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This pattern is validate by 61.8% retracement of XA at B point and 61.8% retacement of AB at C point.<br />
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<b><u>PRZ:</u></b><br />
-0.786XA @0.8693<br />
-AB=CD @0.8675<br />
-1.618BC @0.8670<br />
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Convergence of all important fib retracement/projection at 0.8670-0.8690 provide a nice opportunity to go long on this pair. We also have demand zone at 0.8660-0.8680 which is in confluence with the PRZ. I will be looking to long this pair once price action finish testing all prz level. This setup at least should provide 1:4 risk reward ratio.<br />
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<b><u>Trade Details :</u></b><br />
Entry : 0.8670<br />
SL : 0.8650 (20 pips)<br />
Target 1 : 0.8749 (79 pips)<br />
Target 2 : 0.8801 (131 pips)<br />
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<b>23 Aug 2011</b><br />
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Possibly emerging bat pattern. In the meantime we can trade this as BAMM. I had add my long position with a target on the completion of the bearish bat pattern at 0.8810.<br />
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Entry : 0.8729<br />
SL : 0.8690<br />
<br />adminhttp://www.blogger.com/profile/09819943200638907044noreply@blogger.com2tag:blogger.com,1999:blog-8195327883401225514.post-22135236840451487162011-08-15T08:45:00.000+08:002011-08-15T08:45:38.592+08:00AUDCAD H1 Bearish Bat Pattern - 15 Aug 2011<b>15 Aug 2011</b><br />
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<b>Bearish Bat Pattern On AUDCAD Hourly Chart.</b><br />
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This pattern is validate by 50% retracement of XA at B point and 61.8% retracement of AB at C point.<br />
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<b><u>PRZ :</u></b><br />
0.786XA @1.0403.<br />
2.24BC @1.0392.<br />
1.27AB=CD @1.0392.<br />
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The convergence of all important fibonacci at 1.0390-1.0400 should provide a strong resistance for AUDCAD from predominat uptrend.<br />
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If we are looking on daily chart for this pair, we could summerize a strong uptrend was started on May 2010 without hesitating of a reversal sign. However this pair formed a double top at 1.0550. I will be looking to short on this pair once price action is testing the PRZ. One thing to remember as the B point is below 50% retracement of XA, this pattern could formed to Crab pattern if PRZ unable to hold the strong predominant uptrend.adminhttp://www.blogger.com/profile/09819943200638907044noreply@blogger.com0tag:blogger.com,1999:blog-8195327883401225514.post-9095819881708161602011-08-02T00:41:00.000+08:002011-08-02T00:41:38.956+08:00CADCHF H1 Bullish Crab Pattern - 1 Aug 2011<b>1 Aug 2011</b><br />
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<b>Bullish Deep Crab Pattern On CADCHF Hourly Chart.</b><br />
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This pattern is define by 88.6% retracement of XA at B point and 38.2% retracement of AB at C point.<br />
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<u><b>PRZ :</b></u><br />
1.27AB=CD @0.8160<br />
1.618XA @0.8112<br />
2.24BC @0.8092<br />
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However i think it is quite dangerous to jump in long position at the moment. Price action is testing the PRZ and was in all time low at 0.8070. I will be looking on the retest of the PRZ. This pair still in strong predominant downtrend.<br />
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4H Bearish Channel On CADCHF.adminhttp://www.blogger.com/profile/09819943200638907044noreply@blogger.com3tag:blogger.com,1999:blog-8195327883401225514.post-89801191554137216972011-07-29T17:52:00.001+08:002011-07-31T09:46:02.632+08:00NZDUSD H1 Bullish Bat Pattern - 29 July 2011<b>29 July 2011</b><br />
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<b>Bullish Bat Pattern On NZDUSD Hourly Chart.</b><br />
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This pattern is validate by 50% retracement of XA at B point and 88.6% retracement of AB at C point.<br />
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<u><b>PRZ:</b></u><br />
1.27AB=CD @0.8641.<br />
1.618BC @0.8633.<br />
0.886XA @0.8630.<br />
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<b>UPDATE</b><br />
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Enter long position at 0.8635. This situation show a sharp reversal after price action testing the PRZ. I had exit my position at 0.8689. The reason is i just don't like hold my position on the last week of the month. As next week is new week of the month, there are many fundamental news which could easily change market sentiment very fast. Usually on 1st week of the month market tends to be indecisive and we could see wild swing as different surprises dominate market sentiment.On August 2 (Tuesday) also will be a deadline for congress to raise debt ceiling in US. Although price action manage to rally higher from my exit point i'm satisfied with this trade. This trade produce me a nice fast <b style="color: #38761d;">54</b> pips profit.adminhttp://www.blogger.com/profile/09819943200638907044noreply@blogger.com0tag:blogger.com,1999:blog-8195327883401225514.post-62870403593575022202011-07-29T12:50:00.001+08:002011-07-31T09:17:24.363+08:00AUDUSD H1 Bullish Bat Pattern - 29 July 2011<b>29 July 2011</b><br />
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<b>Bullish Bat Pattern On AUDUSD Hourly Chart.</b><br />
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This pattern is validate by 0.50 retracement of XA at B point and 0.886 retracement of AB at C point.<br />
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<u><b>PRZ:</b></u><br />
1.618BC @1.0955<br />
0.886XA @1.0948<br />
1.618AB=CD @1.0944<br />
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For a summerize,AUDUSD is in the uptrend for quite a long time. This pair just formed a double top of all time high at 1.1075-1.1080. <br />
Convergence of all important fib level at 1.0940-1.0955 will determine if this pair will continues in the predominant uptrend or should reversal is coming.We also have a demand zone at 1.0930-1.0940 just below the PRZ. I will be looking to go long on this pair on the price action testing the PRZ. One thing to remember as B point is below 50% retracement of XA, this pattern could be a Crab pattern if this Bat pattern is fail. However for a Crab pattern PRZ will be more extreme as important fib level will be at 1.618XA which is at 1.0840.<br />
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<b>UPDATE</b> <br />
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I had enter my long position at 1.0950. Price action struggling challenging PRZ for a few hours. I had been stopout at 1.0915 after PRZ is failed to hold price action from short term downtrend. However sharp reversal could be seen after my stoploss been hit. This is another case of pure friday stoploss hunt for me. I had lost <b style="color: red;">-35</b> pips in this trade.adminhttp://www.blogger.com/profile/09819943200638907044noreply@blogger.com0tag:blogger.com,1999:blog-8195327883401225514.post-45625182090143417282011-07-19T22:00:00.005+08:002011-07-25T20:38:21.601+08:00EURCAD H1 Bullish Butterfly Pattern - 19 July 2011<b>19 July 2011</b>
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<b>Bullish Butterfly Pattern On EURCAD Hourly Chart. </b><br />
This pattern is validate by 0.786 retracement of XA at B point and 0.618 retracement of AB at C point.
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<u>PRZ :</u><br />
- 1.27AB=CD @1.3450.<br />
- 1.27XA @ 1.3431.<br />
- 2.24BC @ 1.3407.<br />
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<b>UPDATE</b><br />
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<u>Trade Details :</u><br />
Entry : 1.3458<br />
SL : 1.3400 (58 pips)<br />
Target 1 : 1.3795 (337 pips)<br />
Target 2 : 1.4015 (557 pips)<br />
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If this trade play out nicely we had a very good risk reward ratio.<br />
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<b>22 July 2011</b><br />
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Strong supply zone at 1.3630-1.3660. If this is break will open all the way to 1.3830.If weekly candle closed above this supply zone, a good sign to achieve my 1st target.<br />
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<b>25 July 2011</b><br />
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EURCAD start this week with about 40 pips gap up on the Monday morning. This pair manage to rally untill 1.3700 which is strong physiological level. Still uncertainty in the EUR zone regarding greece issue capped this pair to break 1.3700. Truth is i'm hoping it could break 1.3700 level which had bring me a bad decision based on emotional feeling. Sharp decline in this pair once it failed to to break the 1.3700 level. <br />
I had closed 2/5 of my position on the 0.382 retracement of reversal trend which is at 1.3619 with <b><span style="color: #38761d;">161</span></b> pips profit. Remaining position had been lock in profit at 1.3570 below demand zone.However if the demand zone at 1.3575-1.3620 is hold i will be looking to add long position for this pair.adminhttp://www.blogger.com/profile/09819943200638907044noreply@blogger.com2tag:blogger.com,1999:blog-8195327883401225514.post-37775082826747290042011-07-19T14:01:00.001+08:002011-07-19T18:18:09.853+08:00EURUSD H1 Bearish BAMM - 19 July 2011<div class="separator" style="clear: both; text-align: left;">
<b>19 July 2011 </b></div>
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<a href="http://2.bp.blogspot.com/-rjptjbdcVyw/TiUdA1fyImI/AAAAAAAAAKo/U2yk33rujPk/s1600/eurusd+h1+bearish+bamm.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="149" src="http://2.bp.blogspot.com/-rjptjbdcVyw/TiUdA1fyImI/AAAAAAAAAKo/U2yk33rujPk/s320/eurusd+h1+bearish+bamm.gif" width="320" /></a></div>
<b>BAMM - Bat Action Magnet Move.</b><br />
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Bullish bat is being formed on EURUSD H1 chart. As the B point is below 50% retracement of XA we could catch a trade on the CD leg. This is called as BAMM. Important note is as BAMM to be valid, B point must be less than 50% retacement of XA. Take profit will be at completion of D point which is at 0.886XA.<br />
Price action must continue convincingly until D point is complete.If not, it is best to cover this position that tend to stall after the BAMM is triggered.<br />
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<u>Trade Detail :</u><br />
Entry : 1.4090<br />
SL : 1.4140 (50 pips)<br />
Target : 1.3890 (200 pips)<br />
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<b>UPDATE </b><br />
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Stopout at 1.4140 with <b style="color: red;">-50</b> pips loss.<br />
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<br />adminhttp://www.blogger.com/profile/09819943200638907044noreply@blogger.com0tag:blogger.com,1999:blog-8195327883401225514.post-4266940696411936862011-07-07T22:52:00.001+08:002011-07-08T09:10:57.956+08:00EURCAD H1 Bullish Crab Pattern - 7 July 2011<b>7 July 2011</b><br />
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<a href="http://3.bp.blogspot.com/-s2WbCKyy2xs/ThXCE1-9LqI/AAAAAAAAAKA/7lsDrecaGTo/s1600/eurcad+bullish+crab+pattern.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://3.bp.blogspot.com/-s2WbCKyy2xs/ThXCE1-9LqI/AAAAAAAAAKA/7lsDrecaGTo/s320/eurcad+bullish+crab+pattern.gif" width="320" /></a></div>
<b>Bullish Crab Pattern On EURCAD Hourly Chart.</b><br />
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This pattern is validate by 0.618 retracement of XA at B point and 0.382AB at C point.<br />
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PRZ is define by convergence of 1.618AB=CD and 3.618BC at 1.3700 and being complement by 1.618XA for lower limit in the PRZ.<br />
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<u><a href="http://2.bp.blogspot.com/-mpF-FPZBaT8/ThXERjZiQBI/AAAAAAAAAKE/5tQvdsxIcSA/s1600/eurcad+bullish+crab+pattern.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://2.bp.blogspot.com/-mpF-FPZBaT8/ThXERjZiQBI/AAAAAAAAAKE/5tQvdsxIcSA/s320/eurcad+bullish+crab+pattern.gif" width="320" /></a></u></div>
<u>Trade Details :</u><br />
Entry : 1.3744<br />
SL : 1.3630 (114 pips)<br />
Target 1 : 1.3850 (106 pips)<br />
Target 2 : 1.3970 (226 pips)<br />
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I had entered this trade a little late as i'm waiting for price action to test 1.618XA. Price action manage to decline until 1.3660 about 15 pips from 1.618XA at the D point, then make a sharp reversal. Although in crab pattern it is critical for price action test all level in the PRZ zone, but for me 10-15 pips different is acceptable.Convergence of two important demand zone also had manage to capped price action from a complete test of PRZ. However, as the late execution in this trade, my SL is wider (106 pips) which make i'm only risk 1/3 of my normal lots.<br />
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<b>8 July 2011 </b><br />
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Exit all position at 1.3759 with <b style="color: #38761d;">15</b> pips profit. Just don't like this trade because my entry is quite high. I will see if price action will make a second retest on the PRZ, maybe i can get nice entry there.<br />
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<br />adminhttp://www.blogger.com/profile/09819943200638907044noreply@blogger.com0tag:blogger.com,1999:blog-8195327883401225514.post-84165996164440969662011-07-07T13:04:00.002+08:002011-07-11T23:49:12.966+08:00EURGBP H1 Bullish Bat Pattern - 7 July 2011<b>7 July 2011</b><br />
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<a href="http://4.bp.blogspot.com/-ue5q_GhQE5E/ThU596-MYMI/AAAAAAAAAJ4/4eDJQB8eT9I/s1600/eurgbp+bullish+bat+pattern.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="256" src="http://4.bp.blogspot.com/-ue5q_GhQE5E/ThU596-MYMI/AAAAAAAAAJ4/4eDJQB8eT9I/s320/eurgbp+bullish+bat+pattern.gif" width="320" /></a></div>
<b>Bullish Bat Pattern On EURGBP Hourly Chart.</b><br />
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This pattern is validate by 0.382 retracement of XA at B point and 0.50AB at C point.<br />
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Convergence of 0.886XA and 3.618BC at 0.8890 define a PRZ for this pattern, while extended 1.618AB=CD at 0.8920 complement the PRZ.<br />
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Extra caution if this trade is execute as B point is below 0.382XA this could be an alternate bat pattern. Although 0.886XA is primary retracement in bat pattern, price action could decline to 1.13XA for alternate bat to valid.<br />
<b>11 July 2011</b><br />
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<a href="http://3.bp.blogspot.com/-glOGgfVVDr8/Thql0R2IOwI/AAAAAAAAAKQ/TEINoVtP3KM/s1600/eurgbp+bullish+bat+pattern.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://3.bp.blogspot.com/-glOGgfVVDr8/Thql0R2IOwI/AAAAAAAAAKQ/TEINoVtP3KM/s320/eurgbp+bullish+bat+pattern.gif" width="320" /></a></div>
<u>Trade Details :</u><br />
Entry 1 : 0.8885<br />
Entry 2 : 0.8863<br />
SL : 0.8830<br />
Target 1 : 0.8940<br />
Target 2 : 0.9000<br />
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<b>UPDATE</b><br />
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Stopout at 0.8830.<br />
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Entry 1 : <b style="color: red;">-55</b> pips loss<br />
Entry 2 : <b style="color: red;">-33</b> pips loss<br />
Total : <b style="color: red;">-88</b> pips loss<br />
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<br />adminhttp://www.blogger.com/profile/09819943200638907044noreply@blogger.com1tag:blogger.com,1999:blog-8195327883401225514.post-92042122664133234082011-07-07T11:21:00.000+08:002011-07-07T11:21:01.545+08:00GBPCHF H1 Bullish Bat Pattern - 7 July 2011<b>7 July 2011</b><br />
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<a href="http://3.bp.blogspot.com/-evFgd9YpTT8/ThUdjIbUlHI/AAAAAAAAAJw/JwEIHU0_qlQ/s1600/gbpchf+bullish+bat+pattern.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://3.bp.blogspot.com/-evFgd9YpTT8/ThUdjIbUlHI/AAAAAAAAAJw/JwEIHU0_qlQ/s320/gbpchf+bullish+bat+pattern.gif" width="320" /></a></div>
<b>Bullish Bat Pattern On GBPCHF Hourly Chart.</b><br />
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This pattern is validate by 0.382 retracement of XA at B point and 0.618AB at C point. One thing to remember as B point is below 0.50XA this pattern could be a crab if the bat is failed.<br />
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The convergence of 0.886XA,2.24BC and 1.618AB=CD at 1.3310 define a PRZ from predominant trend. Demand zone at 1.3260-1.3300 mark all time low for this pair at the moment. I will be update this pattern on my <b><a href="http://twitter.com/tradeharmonic">twitter</a></b>. Hopefully can get nice trade here.<br />
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; margin-right: 1em; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="http://3.bp.blogspot.com/-oU-VoUo9w2s/ThUi6I3dcOI/AAAAAAAAAJ0/kLoGMo7VDyE/s1600/gbpchf+bullish+crab+pattern.gif" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="240" src="http://3.bp.blogspot.com/-oU-VoUo9w2s/ThUi6I3dcOI/AAAAAAAAAJ0/kLoGMo7VDyE/s320/gbpchf+bullish+crab+pattern.gif" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Monthly Bullish Crab</td></tr>
</tbody></table>
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Looking at monthly chart we could see bullish crab is being formed. However this pattern is still far away from complete as PRZ is at 1.1490 area. But it is worth to know how far this pair possibly go in the predominant downtrend. It is amazed to see in this pattern start to formed at 1996 and takes 15 years to complete.<br />
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<br />adminhttp://www.blogger.com/profile/09819943200638907044noreply@blogger.com0tag:blogger.com,1999:blog-8195327883401225514.post-83948849090316192002011-07-05T09:35:00.003+08:002011-07-08T00:42:01.534+08:00EURJPY H1 Bearish Bat - 5 July 2011<b>5 July 2011</b><br />
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<a href="http://1.bp.blogspot.com/-hoNSyCmxRUw/ThJmUUsI5hI/AAAAAAAAAJM/ltUX0clqB6I/s1600/eurjpy+h1+bearish+bat.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://1.bp.blogspot.com/-hoNSyCmxRUw/ThJmUUsI5hI/AAAAAAAAAJM/ltUX0clqB6I/s320/eurjpy+h1+bearish+bat.gif" width="320" /></a></div>
<b>Bearish Bat Pattern On EURJPY Hourly Chart.</b><br />
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This pattern is validate by 0.500 retracement of XA at B point and 0.886AB at C point.<br />
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<a href="http://2.bp.blogspot.com/-wm6ZU2C6LdA/ThJmzdqCTMI/AAAAAAAAAJQ/WH0QtDknb6I/s1600/eurjpy+h1+bearish+bat+prz.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://2.bp.blogspot.com/-wm6ZU2C6LdA/ThJmzdqCTMI/AAAAAAAAAJQ/WH0QtDknb6I/s320/eurjpy+h1+bearish+bat+prz.gif" width="320" /></a></div>
<u>PRZ :</u><br />
<ul>
<li>0.886XA @117.39</li>
<li>1.618AB=CD @117.46</li>
<li>2.00BC @117.84</li>
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Price action had test one time on PRZ and manage to hold from predominant uptrend. Supply zone in 117.50-70 also provide a strong resistance.I had entered this trade last week but got stopout on breakeven.Refer my last week trade <a href="http://tradeharmonicpatterns.blogspot.com/2011/06/eurjpy-h1-bearish-bat-pattern.html">here</a>. I will wait until second test of PRZ is finish,if PRZ manage to hold the price action from predominant uptrend this should give an opportunity to go short for this pair with stoploss just above the suppy zone. Follow me on my <a href="http://twitter.com/tradeharmonic">twitter</a> for the updates.<br />
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<b>UPDATE</b><br />
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<a href="http://3.bp.blogspot.com/-cCu9eoDezD8/ThKNkSV9neI/AAAAAAAAAJU/2rRfZFTyxUk/s1600/eurjpy+h1+bearish+bat+pattern.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://3.bp.blogspot.com/-cCu9eoDezD8/ThKNkSV9neI/AAAAAAAAAJU/2rRfZFTyxUk/s320/eurjpy+h1+bearish+bat+pattern.gif" width="320" /></a></div>
<u>Trade Details:</u><br />
Entry : 117.40<br />
SL : 117.85 (45 pips)<br />
Target 1 : 116.10 (130 pips)<br />
Target 2 : 115.10 (230 pips)<br />
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Confluence of supply zone and PRZ at 117.50-117.70 manage to hold price action from predominant uptrend. This trade if successful potential to return 1:5 risk reward ratio.<br />
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<b>6 July 2011</b><br />
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<a href="http://1.bp.blogspot.com/-ShmFXbs4rJE/ThSTvGgVtcI/AAAAAAAAAJk/frXhCFnZgbA/s1600/eurjpy+bearish+bat.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://1.bp.blogspot.com/-ShmFXbs4rJE/ThSTvGgVtcI/AAAAAAAAAJk/frXhCFnZgbA/s320/eurjpy+bearish+bat.gif" width="320" /></a></div>
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Exit partial position at 116.20 with <b style="color: #38761d;">120</b> pips profit. I had add another position on the breakout of demand zone (116.15-30) and trendline break.<br />
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Trade Details :<br />
Entry 2 : 116.01<br />
SL : 116.45<br />
TP : 115.25<br />
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<b>UPDATE</b><br />
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<a href="http://2.bp.blogspot.com/-BoteFFmdBOg/ThSWye1piCI/AAAAAAAAAJo/McykC80LGdQ/s1600/eurjpy+bearish+bat.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://2.bp.blogspot.com/-BoteFFmdBOg/ThSWye1piCI/AAAAAAAAAJo/McykC80LGdQ/s320/eurjpy+bearish+bat.gif" width="320" /></a></div>
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Exit all position at 115.60.<br />
Entry 1 : 180 pips profit.<br />
Entry 2 : 41 pips profit.<br />
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Total this trade : 120+180+41= <b style="color: #38761d;">341</b> pips profit.<br />
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<b>8 July 2011</b><br />
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<a href="http://1.bp.blogspot.com/-U-Zu2A5wga4/ThXgYPo2uJI/AAAAAAAAAKI/U4txp4xj10Y/s1600/a.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://1.bp.blogspot.com/-U-Zu2A5wga4/ThXgYPo2uJI/AAAAAAAAAKI/U4txp4xj10Y/s320/a.gif" width="320" /></a></div>
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<b>Trade Followup</b><br />
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Great entry,great exit,good pips..if i can make like this everyday every trade ... :)<br />
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<br />adminhttp://www.blogger.com/profile/09819943200638907044noreply@blogger.com0tag:blogger.com,1999:blog-8195327883401225514.post-52885056138758548872011-07-04T08:34:00.006+08:002011-07-07T10:12:47.647+08:00EURUSD H1 Bearish Gartley - 4 July 2011<div class="separator" style="clear: both; text-align: left;">
<b>4 July 2011</b></div>
<a href="http://1.bp.blogspot.com/-jn7Qi0S84Ag/ThEHolPYtuI/AAAAAAAAAJE/nV5AjdIovhA/s1600/eurusd+h1+bearish+gartley.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="139" src="http://1.bp.blogspot.com/-jn7Qi0S84Ag/ThEHolPYtuI/AAAAAAAAAJE/nV5AjdIovhA/s320/eurusd+h1+bearish+gartley.gif" width="320" /></a><b>Bearish Gartley On EURUSD Hourly Chart.</b><br />
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This pattern is validate by 0.618 retracement of XA at B point and 0.886 retracement of AB at C point. While PRZ is define by a convergence of 0.786XA at 1.4563 and 1.41BC at 1.4580. Although AB=CD in this pattern is at 1.4470 which is about 90 pips from 0.786XA, i believe 1.4580 area will provide a limit in PRZ.<br />
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<a href="http://3.bp.blogspot.com/-vGatdKGRdEQ/ThEILfoeKSI/AAAAAAAAAJI/cv02go682ZM/s1600/eurusd+h1+bearish+gartley.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://3.bp.blogspot.com/-vGatdKGRdEQ/ThEILfoeKSI/AAAAAAAAAJI/cv02go682ZM/s320/eurusd+h1+bearish+gartley.gif" width="320" /></a></div>
<u>Trade Details :</u><br />
Entry : 1.4560<br />
SL : 1.4695 (135 pips)<br />
Target 1 : 1.4380 (180 pips)<br />
Target 2 : 1.4260 (300 pips)<br />
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Although this trade could produce 1:3 risk reward ratio i only entered 1/3 of my normal position as SL is quite big for me (135 pips). Maybe i will go for target 2 with trailing stop if this trade manage to achive target 1 level.<br />
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<b>5 July 2011</b><br />
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<a href="http://3.bp.blogspot.com/-LdxFAMLCDEE/ThKf3lQe8tI/AAAAAAAAAJY/JvF1tsVqTTo/s1600/eurusd+hourly+bearish+gartley+pattern.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://3.bp.blogspot.com/-LdxFAMLCDEE/ThKf3lQe8tI/AAAAAAAAAJY/JvF1tsVqTTo/s320/eurusd+hourly+bearish+gartley+pattern.gif" width="320" /></a></div>
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Price action is testing demand zone at 1.4450-1.44770. SL move to breakeven.<br />
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<b>6 July 2011</b><br />
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<a href="http://4.bp.blogspot.com/-Rio5Yrqa41w/ThN25JeJAcI/AAAAAAAAAJc/uVdQEQ_8zmE/s1600/eurusd+h1+bearish+gartley.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://4.bp.blogspot.com/-Rio5Yrqa41w/ThN25JeJAcI/AAAAAAAAAJc/uVdQEQ_8zmE/s320/eurusd+h1+bearish+gartley.gif" width="320" /></a></div>
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Price action challenging demand zone at 1.4410-30.Lock in profit at 1.4505.<br />
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Stopout at 1.4460 with <b style="color: #38761d;">100</b> pips profit.<br />
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<b>7 July 2011</b><br />
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<a href="http://4.bp.blogspot.com/-UHCRGW8k9vA/ThUUjRX1gqI/AAAAAAAAAJs/is8uzTRQNJU/s1600/eurusd+bearish+gartley+bearish+bat.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://4.bp.blogspot.com/-UHCRGW8k9vA/ThUUjRX1gqI/AAAAAAAAAJs/is8uzTRQNJU/s320/eurusd+bearish+gartley+bearish+bat.gif" width="320" /></a></div>
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<b>Trade followup.</b><br />
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Too bad i had been stopout before target 1 been hit. Sooo hate just to watch 150+ pips just been washed away... !!!!!! grrrrrr !!!!!!. <br />
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<br />adminhttp://www.blogger.com/profile/09819943200638907044noreply@blogger.com0tag:blogger.com,1999:blog-8195327883401225514.post-37730660468959725562011-06-30T01:28:00.001+08:002011-06-30T11:05:16.709+08:00USDJPY H1 Bearish Gartley Pattern<b>29 Jun 2011</b><br />
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<a href="http://4.bp.blogspot.com/-MEnfBjWzxs8/TgtdKPp6H4I/AAAAAAAAAI8/-3VpenVY9FQ/s1600/usdjpy+h1+bearish+butterfly.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="138" src="http://4.bp.blogspot.com/-MEnfBjWzxs8/TgtdKPp6H4I/AAAAAAAAAI8/-3VpenVY9FQ/s320/usdjpy+h1+bearish+butterfly.gif" width="320" /></a></div>
<u>Trade Details : </u><br />
Entry : 81.16<br />
SL : 81.70 (54 pips)<br />
Target 1 : 80.67 (49 pips)<br />
Target 2 : 80.29 (87 pips)<br />
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<br />adminhttp://www.blogger.com/profile/09819943200638907044noreply@blogger.com0tag:blogger.com,1999:blog-8195327883401225514.post-77264789396940449452011-06-30T01:27:00.000+08:002011-06-30T01:27:28.069+08:00EURGBP H1 Bearish Butterfly Pattern<b>29 Jun 2011</b><br />
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<a href="http://3.bp.blogspot.com/-i1YMZ1AOhVU/Tgtb8fhEZHI/AAAAAAAAAI4/3ygbpCAwM5A/s1600/eurgbp+h1+bearish+butterfly+pattern.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="139" src="http://3.bp.blogspot.com/-i1YMZ1AOhVU/Tgtb8fhEZHI/AAAAAAAAAI4/3ygbpCAwM5A/s320/eurgbp+h1+bearish+butterfly+pattern.gif" width="320" /></a></div>
<u>Trade Details :</u><br />
Entry : 0.8981<br />
SL : 0.9030 (49 pips)<br />
Target 1 : 0.8951 (30 pips)<br />
Target 2 : 0.8912 (69 pips)<br />
<br />adminhttp://www.blogger.com/profile/09819943200638907044noreply@blogger.com0tag:blogger.com,1999:blog-8195327883401225514.post-63832102565687822792011-06-30T01:26:00.000+08:002011-06-30T01:26:29.113+08:00EURJPY H1 Bearish Bat Pattern<b>29 Jun 2011</b><br />
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<u>Trade Details :</u><br />
Entry : 116.97<br />
SL : 117.80 (83 pips)<br />
Target 1 : 115.77 (120 pips)<br />
Target 2 : 114.90 (207 pips)<br />
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<br />adminhttp://www.blogger.com/profile/09819943200638907044noreply@blogger.com0tag:blogger.com,1999:blog-8195327883401225514.post-53378774417690134272011-06-26T14:29:00.001+08:002011-06-26T14:47:00.480+08:00EURCAD M15 Bearish Bat Pattern<a href="http://4.bp.blogspot.com/-J7aQMRednmk/TgQ-x-pYtfI/AAAAAAAAAH0/i6DFoQd5vos/s1600/eurcad+m15+bearish+bat.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://4.bp.blogspot.com/-J7aQMRednmk/TgQ-x-pYtfI/AAAAAAAAAH0/i6DFoQd5vos/s320/eurcad+m15+bearish+bat.gif" width="320" /></a><b>Bearish Bat Pattern On EURCAD M15 Chart.</b><br />
<ul>
<li>B point at 0.500 retracement of XA.</li>
<li> C point at 0.707 retracement of AB.</li>
</ul>
<u>PRZ Zone :</u><br />
<ul>
<li> 0.886XA at 1.3961.</li>
<li>1.618AB=CD at 1.3963.</li>
<li>2.24BC at 1.3956.</li>
</ul>
The convergence of all fibonacci retracement in the PRZ zone at 1.3960 area give a strong probability of a reversal from predominant uptrend in 15min chart.PRZ zone also had been supported by two supply zone at 1.3945-1.3955 and 1.3960-1.3975.<br />
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<u>Trade Details :</u><br />
Entry : 1.3958<br />
SL : 1.3985 (27 pips)<br />
TP 1 : 1.3915 (43 pips)<br />
TP 2 : 1.3885 (73 pips)<br />
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EURCAD manage to reverse until demand zone at 1.3920-1.3930 before bounce back to PRZ zone.My position had been stopout at 1.3985 with <b style="color: red;">-27</b><span style="color: red;"> </span>pips loss.<br />
However i had short again for this pair at 1.3962.<br />
The reason i reenter a position after SL been hit in this pair is i believe this is a alternate bat pattern. As for alternate bat pattern to be valid, B point must be at 0.382XA. In this case, B point is 9 pips above 0.382XA.In alternate bat pattern price action will reach beyond 0.886XA to 1.13XA but must not exceed 1.13XA. Normally price action will not test 1.13XA.<br />
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<u>Trade Details :</u><br />
Entry : 1.3962<br />
SL : 1.4005 (43 pips)<br />
BE : 1.3930<br />
TP : 1.3880 (125 pips)<br />
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I will not scaling into exit in this trade. However SL will be moves to breakeven once price action reach 1.3930. <br />
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Stopout at breakeven (1.3962).<br />
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Total : <b style="color: red;">-27</b> pips loss.<br />
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</div>adminhttp://www.blogger.com/profile/09819943200638907044noreply@blogger.com0tag:blogger.com,1999:blog-8195327883401225514.post-81263683342552199622011-06-24T21:47:00.000+08:002011-06-24T21:47:06.799+08:00CADJPY H1 Bearish Deep Crab<b>22 Jun 2011</b><br />
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<a href="http://1.bp.blogspot.com/-iMRbJnzRBXg/TgE2q5NJhFI/AAAAAAAAAGg/YixQb8HSjQ0/s1600/cadjpy+bearish+deep+crab.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://1.bp.blogspot.com/-iMRbJnzRBXg/TgE2q5NJhFI/AAAAAAAAAGg/YixQb8HSjQ0/s320/cadjpy+bearish+deep+crab.gif" width="320" /></a></div>
<b>Bearish Deep Crab Pattern On CADJPY Hourly Chart</b>.<br />
This pattern is validate by a 0.886 retracement of XA at B point and 0.500 retracement of AB at C point.Convergence of 1.618XA and 2.618BC at 82.70 limit the PRZ Zone.<br />
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<u>Trade Details :</u><br />
Entry 1 : 82.49<br />
SL : 83.10 (61 pips)<br />
BE : 82.10<br />
TP : 81.75 (74 pips)<br />
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Price action made a rally to 82.60 before start to stall. I had entered 2/3 of my position on entry 1 as price action not yet retest the PRZ Zone at 82.70. Entry 2 will be triggered if price action needed to retest 82.70 area. However this trade not produce good risk reward ratio. I will not be scaling to exit in this trade because TP 1 should be at 82.10 while TP 2 should be at 81.75. Despite that beakeven level is put on TP 1 at 82.10. By this i can get at least 1:1 risk reward ratio.<br />
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<b>23 Jun 2011</b><br />
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Add 1/3 of my position on second retest of PRZ Zone.<br />
Entry 2 : 82.66<br />
SL point and TP same with Entry 1.<br />
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Exit Entry 2 at 82.72 with <b style="color: red;">-6</b> pips loss. Price action start to show lacked of reversal strength.<br />
Reduce SL for Entry 1 to 82.95 (46 pips).<br />
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<b>Update</b> : Exit Entry 1 at 82.92 with <b style="color: red;">-43</b> pips loss.<br />
Total : <b style="color: red;">-49</b> pips loss<br />
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<b>24 Jun 2011</b><br />
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<b>Followup on CADJPY. </b><br />
Sharp reversal after stoploss had been hit and reach my TP level already. It is frustrating when i'm faced a position like this. Just to watch my position had been stopout and price action quickly reverse after that.<br />
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Any comment on this is welcome... <br />
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<br />adminhttp://www.blogger.com/profile/09819943200638907044noreply@blogger.com2tag:blogger.com,1999:blog-8195327883401225514.post-86142439906962252902011-06-23T20:20:00.000+08:002011-06-23T20:20:53.976+08:00EURUSD H1 Bearish Gartley Pattern<b>22 Jun 2011</b><br />
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<a href="http://3.bp.blogspot.com/-Y_0c6jAQCqc/TgDIAJ-SSYI/AAAAAAAAAGA/RdEjDZ1-KU4/s1600/eurusd+bullish+gartley.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://3.bp.blogspot.com/-Y_0c6jAQCqc/TgDIAJ-SSYI/AAAAAAAAAGA/RdEjDZ1-KU4/s320/eurusd+bullish+gartley.gif" width="320" /></a></div>
<b>Bearish Gartley on EURUSD Hourly Chart.</b><br />
<ul>
<li>B point at 0.618XA retracement. </li>
<li>C point at 0.500AB retracement.</li>
</ul>
In this pattern, PRZ zone is define by a convergence of 0.786XA retracement and 1.41BC retracement at 1.4400. While AB=CD at 1.4450 complement the limit for the PRZ zone.<br />
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<a href="http://3.bp.blogspot.com/-qqBQaIsOjFU/TgDKsw5fUuI/AAAAAAAAAGE/e9RzX0SaT64/s1600/eurusd+deep+crab.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://3.bp.blogspot.com/-qqBQaIsOjFU/TgDKsw5fUuI/AAAAAAAAAGE/e9RzX0SaT64/s320/eurusd+deep+crab.gif" width="320" /></a></div>
This setup also posses pattern within a pattern formation.In 5M chart we could see a bearish deep crab pattern which formed in the CD leg of hourly bearish gartley.PRZ for 5M deep crab limit by 2.00BC at 1.4440.<br />
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<u>Trade Details :</u><br />
Entry 1 : 1.4400<br />
SL : 1.4450 (50 pips)<br />
TP : 1.4295 (105 pips)<br />
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This trade will return at least 1:2 risk reward ratio.Remember that we still got 5M bearish deep crab which is not yet complete.I had enter 2/3 of my position on the retest of hourly bearish gartley leaving 1/3 position if price action needed to retest 5M bearish deep crab before reversal had been done.<br />
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<b>UPDATE</b><br />
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<a href="http://4.bp.blogspot.com/-evH99U1zScY/TgEowKJ70MI/AAAAAAAAAGQ/tCiU3GU6Y6Y/s1600/eurusd+bearish+deep+crab.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://4.bp.blogspot.com/-evH99U1zScY/TgEowKJ70MI/AAAAAAAAAGQ/tCiU3GU6Y6Y/s320/eurusd+bearish+deep+crab.gif" width="320" /></a></div>
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1/3 of my position triggered on the retest of 5M deep bearish crab.<br />
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<u>Trade Details :</u><br />
Entry 2 : 1.4430<br />
SL : 1.4450 (20 pips)<br />
TP : 1.4210 (220 pips)<br />
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<b>23 Jun 2011</b><br />
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Exit Entry 1 at 1.4320 with <b style="color: #38761d;">82</b> pips profit. We have bullish ABCD on hourly chart and price action is testing demand zone at 1.4290-1.4320.<br />
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<a href="http://2.bp.blogspot.com/-Z-6ytDDnhmg/TgKnheLku8I/AAAAAAAAAHQ/Jp2G04y094A/s1600/eurusd+m5+bullish+deep+crab.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://2.bp.blogspot.com/-Z-6ytDDnhmg/TgKnheLku8I/AAAAAAAAAHQ/Jp2G04y094A/s320/eurusd+m5+bullish+deep+crab.gif" width="320" /></a></div>
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Deep Bullish Crab On M5 Chart. Price action is testing PRZ zone 1.4290-1.4300.<br />
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Exit Entry 2 at 1.4306 with <b style="color: #38761d;">124</b> pips.<br />
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Total profit : <b style="color: #38761d;">206</b> pips.<br />
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<br />adminhttp://www.blogger.com/profile/09819943200638907044noreply@blogger.com0tag:blogger.com,1999:blog-8195327883401225514.post-82114870279694359062011-06-23T20:18:00.000+08:002011-06-23T20:18:44.789+08:00EURJPY H1 Bearish 5-0<div class="separator" style="clear: both; text-align: center;">
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<b>22 Jun 2011</b><br />
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<a href="http://1.bp.blogspot.com/-fRSETXmYM84/TgEswdL1o2I/AAAAAAAAAGU/Rok2c9RHCjU/s1600/eurjpy+bearish+5-0.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="103" src="http://1.bp.blogspot.com/-fRSETXmYM84/TgEswdL1o2I/AAAAAAAAAGU/Rok2c9RHCjU/s320/eurjpy+bearish+5-0.gif" width="320" /></a></div>
<b>Bearish 5-0 Pattern On EURJPY Hourly Chart.</b><br />
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This pattern is continuation of bullish BAMM in the previous post. B point at 1.13 retracement of XA validate this pattern.<br />
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<a href="http://3.bp.blogspot.com/-1gq7447T5R4/TgEug4VNqPI/AAAAAAAAAGc/AFroW-K6kR8/s1600/eurjpy+bearish+5-0.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://3.bp.blogspot.com/-1gq7447T5R4/TgEug4VNqPI/AAAAAAAAAGc/AFroW-K6kR8/s320/eurjpy+bearish+5-0.gif" width="320" /></a></div>
This Bearish 5-0 pattern completion projection is define by a convergence of 0.50 retracement of BC and reciprocal AB=CD at 115.70.<br />
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<u>Trade Details :</u><br />
Entry : 115.70<br />
SL : 116.10 (40 pips)<br />
TP 1 : 114.90 (80 pips)<br />
TP 2 : 114.40 (130 pips)<br />
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<b>23 Jun 2011</b><br />
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<a href="http://3.bp.blogspot.com/-iUvs_XCVlvg/TgMWP_5eOZI/AAAAAAAAAHs/ZbAbhl8Ude8/s1600/eurjpy+bearish+5-0+pattern.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://3.bp.blogspot.com/-iUvs_XCVlvg/TgMWP_5eOZI/AAAAAAAAAHs/ZbAbhl8Ude8/s320/eurjpy+bearish+5-0+pattern.gif" width="320" /></a></div>
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Exit 2/3 position at 114.95 with <b style="color: #38761d;">75</b> pip profit.<br />
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Exit all position at 114.68 with <b style="color: #38761d;">102</b> pips profit.<br />
<br />Total : <b style="color: #38761d;">177</b> pips profit.<br />
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<br />adminhttp://www.blogger.com/profile/09819943200638907044noreply@blogger.com0tag:blogger.com,1999:blog-8195327883401225514.post-15894949722703627122011-06-23T13:00:00.000+08:002011-06-23T13:25:27.827+08:00USDCHF H1 Bullish Bat Pattern<b>20 Jun 2011</b><br />
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<a href="http://1.bp.blogspot.com/-aoChs8FPpAw/Tf9e2iy61AI/AAAAAAAAAF0/v_NI3QwaDzg/s1600/usdchf+bullish+bat.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://1.bp.blogspot.com/-aoChs8FPpAw/Tf9e2iy61AI/AAAAAAAAAF0/v_NI3QwaDzg/s320/usdchf+bullish+bat.gif" width="320" /></a></div>
<b>Bullish Bat Pattern On USDCHF Hourly Chart.</b><br />
<ul>
<li>B point at 0.500XA retracement.</li>
<li>C point at 0.618AB retracement.</li>
</ul>
<u>PRZ Zone:</u> <br />
<ul>
<li>Extended 1.27AB=CD at 0.8380.</li>
<li>0.886XA projection at 0.8370.</li>
<li>2.00BC projection at 0.8370.</li>
</ul>
PRZ zone is define by a convergence of 8.886XA and 2.00BC projection at 0.8370 and complement by extended 1.27AB=CD at 0.8380.<br />
The PRZ zones was in the middle of two demand zone. The first one is 0.8380-0.8390 while the second is 0.8350-0.8360. Such a tight demand zone between PRZ should give a strong support for price action to reverse in the PRZ zone.<br />
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<b>22 Jun 2011</b><br />
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<u><span id="goog_1231934446"></span><span id="goog_1231934447"></span>Trade Details :</u>Entry : 0.8374<br />
SL : 0.8340 (34 pips)<br />
TP 1 : 0.8440 (66 pips)<br />
TP 2 : 0.8480 (106 pips)<br />
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<b>UPDATE</b> : SL triggered at 0.8340 with <b><span style="color: red;">-34</span></b> pips loss.<br />
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<b> </b><br />
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<b>23 Jun 2011 </b><br />
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<b>USDCHF FollowUp.</b><br />
Sharp reversal after hit SL.<br />
<b><span style="color: red;">Self Reminder : Take A Lesson From This Trade !!!</span></b><br />
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Lesson 1 : Always look for more bigger demand zone. There are demand zone at 0.8325-0.8340. SL should be put below bigger demand zone.<br />
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This trade show lack of preparation definitely cost me money. This pattern start show on 20 Jun 2011 and complete on 22 Jun 2011. <b style="color: red;">I had 2 days to plan this trade.. !!!</b>adminhttp://www.blogger.com/profile/09819943200638907044noreply@blogger.com0tag:blogger.com,1999:blog-8195327883401225514.post-39589867215487947842011-06-21T13:23:00.003+08:002011-06-22T02:32:17.796+08:00EURJPY Hourly Bullish BAMM<div class="separator" style="clear: both; text-align: center;">
<a href="http://2.bp.blogspot.com/--HBTwq90vXQ/TgAqE4D-2cI/AAAAAAAAAF8/D57GECBgKx0/s1600/eurjpy+bamm.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://2.bp.blogspot.com/--HBTwq90vXQ/TgAqE4D-2cI/AAAAAAAAAF8/D57GECBgKx0/s320/eurjpy+bamm.gif" width="320" /></a></div>
BAMM is abbreviation for Bat Action Magnet Move. The essence of this technique is based on location of mid-point (B) within the pattern structure. Any B point with a retracement less than 50% resulted in a completion point that was closer to the initial X point.<br />
In the Bat pattern when CD leg exceeded the B point, the price action would test the 0.886 retracement of XA leg. This will give an oppurtunity to capture the segment of CD leg instead of waiting for the ultimate completion of the larger pattern.<br />
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The trigger of this trade is based on the price action breakout B point.As seen on the hourly chart for EURJPY, B point was at retracement of 0.382XA. When C point complete at retracement of 0.886AB it will validate the Bat pattern. Once CD leg had breakout the B point, BAMM was triggered. This technique should give best risk reward ratio as the stop loss will be put just below B point and the target is at retracement of 0.886XA.<br />
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<u>Trade Details :</u><br />
Entry : 114.99<br />
SL : 114.60 (39 pips)<br />
Target 1 : 115.71 (72 pips)<br />
Target 2 : 116.33 (134 pips)<br />
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<a href="http://3.bp.blogspot.com/-8mycZZZq1EQ/TgDZ_tBBwBI/AAAAAAAAAGI/1lIU3g72MyI/s1600/eurjpy+bearish+5-0.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="103" src="http://3.bp.blogspot.com/-8mycZZZq1EQ/TgDZ_tBBwBI/AAAAAAAAAGI/1lIU3g72MyI/s320/eurjpy+bearish+5-0.gif" width="320" /></a></div>
Exit all position at 115.27 with <b style="color: #38761d;">28</b> pips profit. The reason i exit this trade early is because now on H1 chart got bearish 5-0 pattern. This pattern completion projection was at a convergence of 0.500 retracement of AB and 2.00 retracement of BC which is at 115.70. I had exit early before the 5-0 pattern completion is because based on other EUR pair is start showing some weakness and this week show a lot of the pattern had reverse before price action testing the PRZ Zone. As a reminder to myself "When in a doubt,take your profit and cut your losses quickly" . However, i'm satisfied with this trade.adminhttp://www.blogger.com/profile/09819943200638907044noreply@blogger.com0tag:blogger.com,1999:blog-8195327883401225514.post-35890426381518523762011-06-20T08:00:00.002+08:002011-06-20T12:43:29.909+08:00EURCAD H1 Bearish Bat Pattern<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; margin-right: 1em; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="http://3.bp.blogspot.com/-3MUped5xY-Y/TfyTe253QgI/AAAAAAAAAFk/o-o1YssAjVE/s1600/eurcad+bearish+bat.gif" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="240" src="http://3.bp.blogspot.com/-3MUped5xY-Y/TfyTe253QgI/AAAAAAAAAFk/o-o1YssAjVE/s320/eurcad+bearish+bat.gif" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">EURCAD H1 Bearish Bat Pattern</td></tr>
</tbody></table>
<b>Bearish Bat Pattern On EURCAD Hourly Chart.</b><br />
<ul>
<li>B point at 0.500XA retracement.</li>
<li>C point at 0.382AB retracement.</li>
</ul>
<u>PRZ Zone: </u><br />
<ul>
<li>0.886XA projection at 1.4064.</li>
<li>2.618BC projection at 1.4060.</li>
<li>AB=CD at 1.4049.</li>
</ul>
PRZ Zone for bearish bat pattern is define by a convergence of 0.886XA projection and 2.618BC projection at 1.4060 and complement by AB=CD at 1.4050. There are also supply zone at 1.4060-1.4080 area. I will pay very attention on the retest of these suppy and PRZ zone. This trade should give at least 3:1 risk reward ratio. <br />
One thing to remember as B point was at 0.500XA retracement,this pattern could complete at 0.886XA (Bat Pattern) or 1.618XA (Crab Pattern).adminhttp://www.blogger.com/profile/09819943200638907044noreply@blogger.com0tag:blogger.com,1999:blog-8195327883401225514.post-28011073451017518942011-06-17T20:26:00.003+08:002011-06-18T21:28:37.779+08:00EURUSD H1 Bullish Bat<div class="separator" style="clear: both; text-align: left;">
<a href="http://2.bp.blogspot.com/-6nwfx-qlv_8/TfpVtu5c-iI/AAAAAAAAAFE/9PuH-58th4U/s1600/eurush+weekly+uptrend.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"></a> <b>15 Jun 2011</b></div>
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<a href="http://2.bp.blogspot.com/-6nwfx-qlv_8/TfpVtu5c-iI/AAAAAAAAAFE/9PuH-58th4U/s1600/eurush+weekly+uptrend.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="147" src="http://2.bp.blogspot.com/-6nwfx-qlv_8/TfpVtu5c-iI/AAAAAAAAAFE/9PuH-58th4U/s320/eurush+weekly+uptrend.gif" width="320" /></a>Bullish channel on EURUSD weekly chart. </div>
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<a href="http://4.bp.blogspot.com/-la1PxOKk6Ic/TfpWe0iIiGI/AAAAAAAAAFI/VNEGNX3_ClY/s1600/eurusd+bullish+crab.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="147" src="http://4.bp.blogspot.com/-la1PxOKk6Ic/TfpWe0iIiGI/AAAAAAAAAFI/VNEGNX3_ClY/s320/eurusd+bullish+crab.gif" width="320" /></a></div>
EURUSD is forming a bullish bat pattern on H1 chart exactly at the bottom of weekly bullish channel. <br />
<ul>
<li>B Point at 0.500XA retracement.</li>
<li>C Point at 0.382AB retracement.</li>
</ul>
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<a href="http://3.bp.blogspot.com/-mgTsJb95Gcc/TfpXtQbkJzI/AAAAAAAAAFM/NNME4X1-l1w/s1600/eurusd+bullish+crab.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://3.bp.blogspot.com/-mgTsJb95Gcc/TfpXtQbkJzI/AAAAAAAAAFM/NNME4X1-l1w/s320/eurusd+bullish+crab.gif" width="320" /></a></div>
<u>PRZ Zone</u> : <br />
<ul>
<li>0.886XA retracement at 1.4050</li>
<li>2.618BC retracement at 1.4030</li>
<li>Extended 1.27AB=CD at 1.4020</li>
</ul>
PRZ Zone is below bottom bullish channel on weekly chart. This could signal high probability of false breakout on the weekly and uptrend continuing was on the way.<br />
<ul>
</ul>
I will be looking to buy this pair on the retest of PRZ pivot level. This trade should give at least 4:1 risk reward ratio.<br />
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One thing to remember, as in this setup B point was at 0.500XA retracement, the pattern could be a Bat pattern or a Crab pattern. While PRZ we must use for Bat pattern is 0.886XA retracement,Crab pattern possess a more extreme PRZ which is 1.618XA retracement. This will make there are several entry possibility on this setup.<br />
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<b>17 Jun 2011</b><br />
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<a href="http://2.bp.blogspot.com/-5ltrx9inmyA/TfymwtStRNI/AAAAAAAAAFs/gsRGkRQExIc/s1600/eurusd+bullish+bat.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://2.bp.blogspot.com/-5ltrx9inmyA/TfymwtStRNI/AAAAAAAAAFs/gsRGkRQExIc/s320/eurusd+bullish+bat.gif" width="320" /></a></div>
After decline to 1.4070, just 40 pips above 0.886XA projection, EURUSD make a strong rally and close the week just below B point at 1.4320 which is about 200 pips. I did not take this trade as i'm waiting the price action to test the PRZ zone before execute my trade. This example show that not every harmonic patterns will produce a trade. The key point is every trade must be execute in the PRZ Zone, which sometime we will miss a good trade. But in my opinion it can filter a lot of bad trade.adminhttp://www.blogger.com/profile/09819943200638907044noreply@blogger.com0