Monday, 11 April 2011

Harmonic trading

Hi guys!

Have to count my deads... Last two weeks for me were very lousy.

I'm experimenting and trading a bit of harmonics pattern, beside my 4h regular setup. I'm taking a longer term positions, also 4h or daily chart, according to the channel the currency is trading in, and the pattern itself.

Something for this week,

SELL 0.100M EUR/CAD @ 1.38057, SL 1.40800 (274 pips), TP 1.35600 (246 pips) Gartley bearish on daily chart

BUY 0.100M AUD/NZD @ 1.34944, SL 1.34000 (94 pips), TP 1.37300 (236 pips) bullish ABCD pattern on 4H chart

SELL 0.100M GBP/CAD @ 1.56405, SL 1.57700 (130 pips), TP 1.53200 (321 pips) ABCD short pattern on 4h chart, downward channel on daily

BUY 0.100M USD/CHF @ 0.90848, SL 0.89800 (105 pips), TP 0.91900 (105 pips) bullish butterfly on 1h chart

Good trading!







5 comments:

  1. i have had some bad trades with ETF's lately. i made mistakes i already know not to make.

    what was wrong with your bad trades lately?

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  2. You trade from daily and 4H charts? I bet that 1 trade will take sometime to complete, won't it?

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  3. Hi SStrader!

    I'm not sure what's wrong with my bad trades. I've followed the rules, just my strategy is purely trend reversal, and market was strongly trending without pullbacks. That hit me on all positions. By nature I'm somehow always choosing countertrend trading, and beginning to realize that it's not the best all the time. I'm unable to understand market conditions, which change over time.

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  4. Yeah, position from the 4h chart usually takes 2-3 days. I'm not happy if it takes longer then that, don't know why.

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  5. Drawing pictures
    http://2.bp.blogspot.com/_4xtPYTAe8_A/TL7YdljNcqI/AAAAAAAAAKk/ZiNFP2isMio/s1600/harmonic+patterns.jpg

    ReplyDelete