EURUSD H1 Bearish BAMM - 19 July 2011

19 July 2011

 BAMM - Bat Action Magnet Move.

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.
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.

Trade Detail :
Entry : 1.4090
SL     : 1.4140 (50 pips)
Target : 1.3890 (200 pips)

UPDATE

Stopout at 1.4140 with -50 pips loss.

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Posted in: BAMM,Bearish,EURUSD

EURUSD H1 Bearish Gartley - 4 July 2011

4 July 2011

Bearish Gartley On EURUSD Hourly Chart.

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.

Trade Details :
Entry : 1.4560
SL    : 1.4695 (135 pips)
Target 1 : 1.4380 (180 pips)
Target 2 : 1.4260 (300 pips)

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.


5 July 2011

Price action is testing demand zone at 1.4450-1.44770. SL move to breakeven.










6 July 2011

Price action challenging demand zone at 1.4410-30.Lock in profit at 1.4505.

Stopout at 1.4460 with 100 pips profit.












7 July 2011

Trade followup.

Too bad i had been stopout before target 1 been hit. Sooo hate just to watch 150+ pips just been washed away... !!!!!! grrrrrr !!!!!!.

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Posted in: Bearish,EURUSD,Gartley

EURUSD H1 Bearish Gartley Pattern

22 Jun 2011

Bearish Gartley on EURUSD Hourly Chart.

• B point at 0.618XA retracement.
• C point at 0.500AB retracement.

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.

 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.

Trade Details :
Entry 1 : 1.4400
SL        : 1.4450 (50 pips)
TP       : 1.4295 (105 pips)



 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.

UPDATE

1/3 of my position triggered on the retest of 5M deep bearish crab.

Trade Details :
Entry 2 : 1.4430
SL        : 1.4450 (20 pips)
TP       : 1.4210 (220 pips)






23 Jun 2011

Exit Entry 1 at 1.4320 with 82 pips profit. We have bullish ABCD on hourly chart and price action is testing demand zone at 1.4290-1.4320.

Deep Bullish Crab On M5 Chart. Price action is testing PRZ zone 1.4290-1.4300.

Exit Entry 2 at 1.4306 with 124 pips.

Total profit : 206 pips.

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Posted in: Bearish,Crab,EURUSD,Gartley

EURUSD H1 Bullish Bat

15 Jun 2011

Bullish channel on EURUSD weekly chart. 

EURUSD is forming a bullish bat pattern on H1 chart exactly at the bottom of weekly bullish channel.

• B Point at 0.500XA retracement.
• C Point at 0.382AB retracement.

PRZ Zone :

• 0.886XA retracement at 1.4050
• 2.618BC retracement at 1.4030
• Extended 1.27AB=CD at 1.4020

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.

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.

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.

17 Jun 2011

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.

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Posted in: Bat,Bullish,EURUSD

EURUSD Bullish 5-0

13 Jun 2011

Bullish 5-0 pattern is formed on EURUSD H1 chart.
This pattern possessed an ideal bullish 5-0 pattern.

As seen on chart B point is at 1.27XA retracement.The important key in a valid 5-0 pattern is a C point.C point must be greater than 1.618AB but must not exceed 2.24AB retracement.



On this setup C point is just below 2.00AB retracement which provide a validity of this pattern.

PRZ Zone in 5-0 pattern is define by 0.50BC retracement at the D point.Reciprocal AB=CD will complement this area.

On this setup D point of 0.50BC retracement is at 1.4330 and reciprocal AB=CD at 1.4320. The tight range of this two important level gives nice opportunity to go long on price action test the 1.4320 area.




14 Jun 2011

Exit all position at 1.4480. Total profit for this trade 210 pip.

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Posted in: 5-0,Bullish,EURUSD