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TerryHarmonicTrading
Nov 22, 2017 8:01 AM

AUDUSD - Bearish Shark at 0.76 做空

OANDA:AUDUSD60
AUD/USDOANDA

描述

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AUDUSD has retraced a little from the lows of last week.

I expect it to retest 0.76.

0.76 is a great level that I am looking to go short.

This is the PRZ of a harmonic shark pattern.

Will be watching for nice pinbars and abnormal volume activity at this level before I go short.

Will be looking at 0.753 and 0.7420 for targets due to the bigger shark pattern in the h4 chart.

订单已取消

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This is the reason why you should never use a pending order for harmonic setups.

Always WAIT FOR A REACTION.

In this case, avoided a loss, conserved capital and waiting for a better opportunity.

Will be looking for AUD shorts again probably next week.

评论

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Will be watching this zone between 0.7628 - 0.7635 closely.

A great support turn resistance zone and a bearish butterfly completion right here.

Again, no pending orders, always wait for a reaction at this zone.

I will it to close weak after hitting the zone with abnormal vol.

评论

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Abnormal volume activity sighted.

Will wait for a retest to the previous top and the distribution process to continue before shorting.

The trigger will be the break of the trendline.

It could happen next week.

评论

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Next week, I will be eyeing the 0.7635 level for potential shorts.

If price breaks strong above this level, I will conclude that the trend has changed towards the upside.

if it failed to break above and closes weak, it will be a trend following ride towards 0.7420.

Watch the volume, it leaves clues.
Harmonic PatternsSharkterryharmonicVSA
评论
lubk
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I am not sure i did receive email with entry explanation but I do not see it here the actual comment. Thanks a lot i will have a look closely to try to learn your approach because i am learning anyway :)
TerryHarmonicTrading
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@lubk, I am learning too. I am not a guru, just a passionate trader who has had a great year so far.
lubk
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Hi Terry, is not quite clear for me what exactly you did or you did't. For me i did wait for the first bearish red candle and i did enter the market did't even go pass the max stop loss area why did you cancel the order. I didi not place the pending order, just once passed the D i start looking for bearish candle with abnormal volume as well. what have i done wrong please. Thanks for the analysis
TerryHarmonicTrading
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@lubk, hey lubk. Let me share with you how I enter my trades.

As written in my analysis up there, I never ever use pending orders.

A few rules I follow very strictly in my rulebook.

1. Always wait for the PRZ level to be tested first. If it is a range, wait for the ENTIRE PRZ range to be tested first. In this case, the 0.76 was never challenged until that big green bar that completed.

2. After the range is tested, wait for abnormal volume. Either super high which closes weak, or super which closes weak is perfect.

Please refer to this chart below for reference. Feel free to clarify your qns with me.

TerryHarmonicTrading
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@lubk, the mistake you made here is not waiting for the entire prz zone to be testing first. 0.76 was the trigger number. If price did not touch this level, there should not be any trade in the first place. No problem, glad I could be of some help on the good trade which I made.
thulasi
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@TerryHarmonicTrading, but it is reversing just went over ur sl but now reversing
TerryHarmonicTrading
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@thulasi, hi, this trade was never triggered. Please read my updated comments on how I execute my trade setups.
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