A review of DXY combining Harmonic Trading with Supply & Demand 做多

US DOLLAR CURRENCY INDEXINDEX

描述

⋅ Mar 31, 2017 12:39 PM

Hey traders, I am going through a course at OTA conducted by a friend Jeff Manson right now.

I am reviewing some setups which failed for me last week.

Dollar Index Daily Chart

Upon reviewing the chart, I realised that this should be the right way I should draw my shark pattern.

Always choose the deeper B leg as your correct B. (Compare this to the other Shark Pattern I have draw earlier)

Mapping in my PRZ, I realized that price tried to close below the PRZ but failed.

Based on something new I just learnt, it happens to be also a demand zone which happened back in February.

*I am still learning and I could be wrong about the way I map the zones*

This is a pretty interesting concept and I am absolutely confident that DXY will hit at least 100.73 based on the TP1 rules of the Shark pattern.

By combining S&D with Harmonics, I guess it should be safe putting my SL just below point D with a small buffer.

Redoing this trade can easily net me a 1:3 R:R on my trade.

Another lesson learnt today and I am definitely gonna read some more books on this way of trading.

Nuno_Nascimento

⋅ Mar 31, 2017 6:34 PM

Terry, best OTA professional - Sam Seiden. The BEST

TerryHarmonicTrading

⋅ Apr 2, 2017 4:59 AM

@nunonascimento, thanks for the recommendation, only heard from Jeff and Steven on Friday. Did you learn from OTA too?

Nuno_Nascimento

⋅ Apr 2, 2017 5:23 AM

@TerryHarmonicTrading, yes back in 2008. I started my trading carrear with them in 2008. Sam Seiden was a Chicago pit trader and when the exchange started to go electronic many pit traders lost and quit their job and started to do some education. I dont know if Sam is still with OTA but you can search about him and you will find a lot of articles about SD. Sam was / is with OTA since their beginning i think. Also FXStreet has a lot of webinars with Sam . Search in youtube as well about him. Regards

TerryHarmonicTrading

⋅ Apr 2, 2017 6:00 AM

@nunonascimento, thanks man. Glad to hear from you, looking forward to your trading ideas too. Already followed you.

UnknownUnicorn669425

⋅ Mar 31, 2017 1:09 PM

@TerryHarmonicTrading, mind sharing how to configure the fibonacci retracement just like yours on Tradingview?

TerryHarmonicTrading

⋅ Mar 31, 2017 1:10 PM

@naiveme, I am using the fibonacci retracement tool. Add in the positive and negative numbers. Include 0.886, 1, 1.13, 1.272. 1.618, 2, 2.24, 2.618 and all the negative numbers of these.

UnknownUnicorn669425

⋅ Mar 31, 2017 2:05 PM

@TerryHarmonicTrading, some question..

1. For the negative numbers ,it refer to extension is it?
2. The pattern drawing and PRZ also need the retracement figure, what does the negative number for?
3. Btw, my fibonacci retracement got this shadow which I can't get rid off to look just like yours.

TerryHarmonicTrading

⋅ Mar 31, 2017 2:07 PM

@naiveme, I use retracement to draw my BC extension and my XA retracement. By configuring them into one tool, I can draw both directions with a single tool, that is the purpose. You can double click and uncheck those you do not want to see.