Harmonics
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- RicG
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Harmonics
Watching this for a potential NZD/JPY long trade.
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(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)
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- RicG
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Re: Harmonics
While NZD/JPY broke to new structure highs, the highest candle close didn't violate the fib extension limit that contains the valid harmonic pattern. Therefore I'm still looking to go long if the "IF, THEN" scenario plays out. An updated pic of the pattern as it now stands:
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- NZD_JPY_update.gif (91.07 KiB) Viewed 6141 times
(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)
- RicG
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Re: Harmonics
NZD/JPY pushed up and created a double top right at the upper fib extension limit that contains the valid harmonic pattern. Therefore I'm still looking to go long if the "IF, THEN" scenario plays out.
An updated pic of the pattern as it now stands:
An updated pic of the pattern as it now stands:
(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)
- RicG
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Re: Harmonics
I'm still watching for a possible harmonic pattern entry on NZD/JPY. Price has been in consolidation for quite a while now. These setups are great for learning patience. The "Place inline" function is not working for some reason, so please click on the attachment link for the latest view:
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- nzd.jpy.update.gif (90.01 KiB) Viewed 6141 times
(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)
- RicG
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Re: Harmonics
Well, NFP numbers that came out this morning got things moving for a lot of markets including NZD/JPY. The move up officially broke the harmonic pattern structure I've been watching for a few days, so no trade on this one at this time. I'm searching for possible setups on other pairs - will post when I find something.
(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)
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- RicG
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Re: Harmonics
Conducted my weekend research this afternoon - here are the potential harmonic trade setups I watching this coming week:
(For some reason the "Place inline" function for posting pics doesn't work on this thread - it does for me on others. So, please click on attachements below to see chart pics.)
(For some reason the "Place inline" function for posting pics doesn't work on this thread - it does for me on others. So, please click on attachements below to see chart pics.)
- Attachments
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- EURAUD.png (77.84 KiB) Viewed 6141 times
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- AUDJPY.png (94.19 KiB) Viewed 6141 times
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- NZDJPY.png (88.01 KiB) Viewed 6141 times
(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)
- RicG
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Re: Harmonics
Update:
EUR/AUD - broke to a new structure high, but that push up didn't violate the fib extension limit for the harmonic pattern to remain valid.
AUD/JPY - this pattern is on a Daily chart and is a long ways away, both in terms of price and time, from possibly triggering.
NZD/JPY - is very close to triggering - might happen later today. An updated pic of that setup:
EUR/AUD - broke to a new structure high, but that push up didn't violate the fib extension limit for the harmonic pattern to remain valid.
AUD/JPY - this pattern is on a Daily chart and is a long ways away, both in terms of price and time, from possibly triggering.
NZD/JPY - is very close to triggering - might happen later today. An updated pic of that setup:
(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)
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