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Good morning everyone,
It was a good relaxing weekend for me, but not for my buddy, Rayn, who had to be in Shenzhen for a seminar/workshop. More great opportunities coming our way. Good job man !!
Well.... where ever we are in the world, the Forex markets still goes on and it waits for no one. Is the Aussie one of the currency pairs that you monitor? It has been on a downtrend since the beginning if the year.
AUDUSD H4 - I see this bounce last Friday as a good opportunity for us to continue to short this pair lower. Let's see how this pans out at the beginning of the week.
The other pair I will be watching closely is EURCAD on the H4 time frame. The pair completed a Bullish Deep Crab pattern and reacted to the PRZ. I am waiting for a Type 2 entry for this pair. Hopefully this will come back for me to take the trade.
Announcement :
I am having my next seminar on the 28th Aug (7pm sharp). That evening I will sharing some goodies where you can immediately implement on to your trading. You seriously would not want to miss this session, you will get a better understanding of Harmonic Patterns. I'll be sharing a trading strategy. Please come, please invite your friends.
Cheers... until then, trade well trade safe.
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Good evening everyone,
I had a PM question from my followers, so I thought that I would share this with everyone.
When looking to trade a currency pair, I always would like to evaluate its correlated pairs to see if they are all showing/telling the same story. Let's jump straight into the analysis.
I was initially analysing the EURUSD Daily Chart
- Currently at support
- RSI not even at oversold yet - (potential more downside)
We have just completed a short trade on the EURNZD M15. Taking total of 30pips + 45pips in profits. If you missed the trade, CLICK HERE to see the trade ideas.
Now evaluating the Daily Chart of EURNZD.
- A bullish Pennant forming - indication potential move higher
- A bearish Butterfly Pattern completing higher
(Both hinting that this could go higher)
Trade Plan : If EURNZD starts to break above the Pennant, go Long until the completion of the Butterfly Pattern. Let's monitor this in the coming week.
Announcement :
Come and explore your trading, come for our next seminar on the 13th Aug (7pm)
Please RSVP via this EventBrite Link below:
CLICK HERE to Register
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Hi Everyone,
It has been a while since I have done an educational post. Felt that I have to share these characteristics that a trader should have.
(KNOWLEDGE and EFFORT to learn)
First of all, trading is not difficult. BUT it is not that easy either. What all traders need is effort. Put the time into learning, exploring, understanding, improving. You first need to understand the market and know what you are doing.
Simple, just think back to the the first time you started driving a car. (Sorry to my younger readers, maybe you can think back to cycling a bike). There we so many things to do and remember when you drive, but you need to know your car. Brakes, accelerator, gear, signals, lights etc etc. Same as trading - charts, candlesticks, patterns, time frame, spreads etc etc etc.
(CONFIDENCE)
The whole idea about trading is to gain that special edge over the markets. To achieve this, you will have to test out your strategies, improve it and keep trading it. I am not talking about testing out 5 trades in this week and you are ready to go. I am talking in terms of hundreds of trades over months/years. Back test the strategies
Once you established that you have a positive expectancy, that is when you know you got it.
Same thing, think back to your school days. (My younger readers are still currently in school, so it is easier for you to imagine). Try to remember the time where you walked into an examination room and you didn't manage to study for it. Did you feel anxious, nervous, panic ?? You are feeling the lack of CONFIDENCE.
Similar in trading, if you don't know what you are doing and you have not tested it before, you will never be confident of the system.
and lastly.....
(DISCIPLINE)
If you have the knowledge and a reliable method of trading. Reliable means a system with a positive expectancy. There will be winners and losers but in the end, you will be profitable. (please please please run away from those people promising you a 100% win rate trading strategy)
Stay discipline and trade your system over and over again. Wash and rinse, wash and rinse, your clothes will get cleaned. This is when I call it Trading in the Zone. Just trade what you see and it has become a second nature to you !!
As all of you would already have known, my discipline is in Harmonic Patterns Trading. I'll just trade what I see. How I wish I could see charts allllllll the time, but it is just not possible. That's where I reply on your guys in my trading community to share. 2 heads are better than one and definitely 100 pair of eyes (with the same trading rules) will be able to spot better trading opportunities together.
Thank you all for following me here !!
I see a potential Gartley setting up again on EURUSD H1
Trade well and trade safe. Cheers
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Dear readers,
For those of you who are following my FaceBook Sharing page. You would have seen my trade on GBPJPY. Moved nicely to TP1, got out of my trade.
Now I am looking to add on to the short. Again using Harmonic Patterns on the lower Time Frame. let's have a look at the M15 chart, I see a bearish Deep Gartley. In lined with the identified sell zones.
Let's monitor this closely.
Stay tuned to our updates, sharing seminars, trade ideas. Make sure that you are subscribed to my mailing list.
CLICK HERE to register/ to continue receiving my newsletters.
Cheers everyone. Trade right and trade safe.
Boon Hooi
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I only took two trades this week, if you were following my postings, you would have gotten into these trades. Let's have a look at them below.
USDJPY H1 Gartley: (-35pips loss)
Price just bashed through the PRZ and continued moving up to hit the stop loss. Weakness in the JPY, but it looks a little overstretched now. Read on to see a potential trade.
EURUSD H4 Gartley: (TP1 with +90pips, now still running with +112pips)
First batch out at TP1 and the second batch remaining is a risk free trade. Shift your stop loss level to the entry price. My TP1 is at 1.1615.
Trade Analysis : GBPJPY H4
As mentioned the JPY looks a little stretched and there could be a potential to take a counter trend trade towards the close of the trading week. Expecting market to correct as the traders take off profits off the table.
Trade engagement: I would want to see some kind of reversal pattern at the PRZ to confirm the short.
Announcements
If you have not explored Harmonic Patterns Trading yet, you are most welcome to attend my upcoming seminar on the 17th July 7pm. Please RSVP via the link below, so we can prepare the necessary logistics.
These patterns have been good to our community. Hope to see you next week.
Trade well and trade safe
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Hi everyone,
Hope that everything is good for you guys. June was quite a good month of trading and July is starting off nicely too. Spotted a few patterns for this week. Somehow, coincidentally they are all Gartleys.
USDJPY H1 - Potential Bearish Gartley
Will be seeing how the price reacts to the PRZ to go short on this pair. Let's watch this together this coming week.
EURUSD H4 - Completed EURUSD Bearish Gartley
The next few candles will be crucial for entry.
Trade well and trade safe everyone.
Continue to get updates from us ?
For those of you who have not stated if you would like to continue receiving updates from us, please do so. Thanks for the continued support.
Click on this link below to fill up a quick form
http://bit.ly/continuetoreceive
Announcements:
I will be running a live seminar here in Singapore. Come and have a good understanding on how Harmonic Patterns work and how it can benefit you.
Date : 17th July 2018
Time : 7pm
Please RSVP via this link below. You are most welcome to bring your fellow trader friends along too. Let's grow together.
https://www.eventbrite.sg/e/forex-technical-analysis-with-harmonic-patterns-tickets-47893414492
see you soon.
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Hi everyone,
Before I start off my trade analysis, I would need a quick favour from you. I am in the process of cleaning up my subscriber list. If you would like to continue to receive our newsletter, trade analysis, educational sharing and updates, please take a quick minute to fill up this form via the link below. (ignore this if you have already filled it up)
Thank you for the continuous support, there will be more goodies coming your way.
Trade Analysis
The recent market talk is all about the trade war intensifying between the US and China and now the EU. The Dow Jones Industrial index has been dropping since the beginning of the month of June.
How does this affect the Forex markets? It kicks in the Risk Off trades, and we have seen people flocking to the safe heaven USD and naturally selling off the commodities currencies (AUD, NZD, CAD).
However from the charts, I see a potential stabilising of the AUDUSD, the pair seems to have found support for the past week at around 0.7340/60. I have spotted a bullish Bat pattern on the H1.
Looking for price to react to 0.7351 and targeting for a move up to 0.7407. Let's monitor this closely.
Cheers everyone. Trade well and trade safe.
Please fill up the form above if you have not done so, you would not want to miss out on the future notifications from us.
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HarmonicForex by Boonhooi - 1y ago
HI everyone,
You must have heard about the trend by now. My daughters let me hear the audio clip, not sure about you guys but I could only hear only Laurel. Made me think about the similarity of this to trading. When everyone looks at the charts, we either have a bullish or a bearish bias, that is how the market works. Just like hearing Yanny or Laurel.
From last week's post on CADJPY and EURAUD (Click Here!!).
CADJPY - shorted the pair, price move only a little and exited at breakeven
EURAUD - price never reacted to the PRZ, broke below the TL support. No trade
In this up coming week, the Yannys and Laurels will be calling out to us again.
AUDUSD H4 - I see both Bullish and Bearish Butterflies on the charts
EURUSD H4 Completed a Bullish Bat pattern.
The bearish momentum is still strong, I believe that we will have to be patient and let this stabalise for a while before it can reverse and move up. Patience !!
Let's monitor these 2 trades closely next week. Cheers, trade safe and trade well !!
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Hi Traders,
I had a good trading week last week, just 2 trades. One profitable AUDCHF and the USDJPY is running in the money this moment. These trades were called before it happened and this is made possible with the predictive nature of Harmonic Patterns Trading. (Drop me a line to know more)
I used a simple free mobile app called "Call Levels" to alert me of the price levels to get me ready to take my trades. See screenshot below
I share all the dos and donts in trading during my mentoring programs !!
Now what trades do we have coming up this week?
With USDJPY starting to show it's downside last week, I see potential further strengthening of the JPY. CHFJPY completed a Bearish Shark Pattern.
I will want to look for potential short on this pair, looking for one of the following to happen:
- Retrace up to re-test the PRZ again
- continuation patterns (bear flag, pennant)
EURAUD is approaching Daily Support Zone + Bullish Bat pattern on the H4
Daily Support Zone
H4 Bullish Bat Pattern
Let's track these trades together and see where it takes us.
Trade well and trade safe everyone !!
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Hi everyone,
I have been a little busy lately, hence the lesser posts here in the last 2 weeks. Anyways all good, planning and looking to bring more content to you guys. Stay tuned ya....
Let's have a look at the charts. I would be looking to trade these setups in this coming week.
AUDCHF - Bullish Shark Pattern on the Hourly Charts
Charts are showing me that the pattern is to complete at 0.7445. Will stay patient and wait for the completion. (Click on the chart to link to my TradingView)
USDJPY - Bearish Shark has completed on the Daily
Now looking for retracement on the smaller time frame to get a better price for a short.
H1 charts showing us a potential Bearish Bat pattern
Trade well and trade safe everyone. Cheers, until next time.
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