Strategy: Harmonic Pattern Trading

Target profit: 75pips per week
Indicators: Channel Movement, Harmonic Patterns, RSI
Important chart pattern: double-top/bottom and Head & Shoulder, divergence and convergence
Important candlestick: Doji, bullish/bearish engulfing

My Trading Mantra

1. Objectively identify my edges - I have a system here that works.
2. Pre-define the risk of every trade.
3. Completely accept the risk. Consider the money GONE.
4. ACT on my edges without reservation or hesitation. Follow the rules and take every trade that meets the conditions.
5. Pay myself as the market makes money available. Take the profits and be happy. Even if compounding my account, pay myself something out of my profits each month.
6. Continually monitor my susceptibility for making errors.
7. Understand the absolute necessity of these principles, and therefore I never violate them.

Tuesday, April 30, 2013

AUDCAD H1 BAT short position

Waiting for BAT pattern to complete. Pending short position.

Your trade results will show if you are doing what is correct or you are doing what you like

EURGBP Daily BAT long position

Waiting for BAT pattern to complete. Pending long position.


Your trade results will show if you are doing what is correct or you are doing what you like

USDCHF H4 BAT long position



Waiting for BAT pattern to complete. Pending long position.

Your trade results will show if you are doing what is correct or you are doing what you like

USDCHF H4 GARTLEY long position


Waiting for GARTLEY pattern to complete. Pending long position.

Your trade results will show if you are doing what is correct or you are doing what you like

USDCAD H4 GARTLEY long position


Waiting for GARTLEY pattern to complete. Pending short position. Potential Reversal Zone, PRZ is slightly loose but still valid.

Your trade results will show if you are doing what is correct or you are doing what you like

EURUSD Daily BAT short position


Waiting for BAT pattern to complete. Pending short position.

Your trade results will show if you are doing what is correct or you are doing what you like

EURCHF H4 BAT long position



Waiting for BAT pattern to complete. Pending long position.


Your trade results will show if you are doing what is correct or you are doing what you like

USDSGD H1 GARTLEY long position


Long position triggered at Potential Reversal Zone, PRZ. Currently in the money, ITM.

Your trade results will show if you are doing what is correct or you are doing what you like

Friday, March 15, 2013

euraud H1 long


Pattern forming, supported by candlestick pattern and indicator. Entered long position.


Your trade results will show if you are doing what is correct or you are doing what you like

Thursday, March 7, 2013

audchfh4 short position


Criteria fulfilled. Entered short position and exited shortly as the entry is not ideal. Re-entered for short position today and suffered 30pips losses during a sudden surge in the morning, GMT+8.



Your trade results will show if you are doing what is correct or you are doing what you like

Monday, March 4, 2013

AudUsdH1 long position


Conditions met at H1, with entry at H4. D1 supporting intended long position. Position closed at +60pips, at adjusted stop loss.

Your trade results will show if you are doing what is correct or you are doing what you like

Thursday, February 28, 2013

UsdCadH4 D1 Short position



Pair shows pattern confluence at H4 and D1. Besides candlestick pattern yet to complete, the rest of the conditions are fulfilled. Entered long position and closed at lost of 31 pips. Looks like strategy is better off to confine to trades entered at H4 and H1. D1 will require a much bigger stop loss.

Your trade results will show if you are doing what is correct or you are doing what you like

Wednesday, February 27, 2013

AudchfH1 long position


Conditions met to enter long position, except for candlestick pattern which has yet to complete. Entered a long position and exited with small profit of 3 pips due to concerns of drastic movement within the entry range and the strong support level. 

Later in the day, price movement went up to 70 pips. Huge swings remains.

Your trade results will show if you are doing what is correct or you are doing what you like

NzdJpyH4 long position


Pattern forming for long position. Other than candlestick pattern pending completion, the rest of conditions are fulfilled. Entered long position and closed at 1pip lost.


Your trade results will show if you are doing what is correct or you are doing what you like

Thursday, February 21, 2013

UsdCad all timeframe pointing to short




This pair caught my eye again despite previous losing trade on this one. This time round, there are strong confluence coming from H1, H4 and D1. Entered position to short this pair and closed at 20pips20pips.

trade results will show if you are doing what is correct or you are doing what you like

EurNzd H1 short

Didn't manage to capture printscreen of the trade. Position closed in advanced manually with 61 pips profit. Close too early as it subsequently ran up to 215pips by night time.


Your trade results will show if you are doing what is correct or you are doing what you like

Tuesday, February 19, 2013

UsdCad H4 Short


Seeing harmonic pattern within a bigger harmonic pattern. Price action actualising. Position entered and closed at a lost.

Potential Reversal Zone shifted. 




Waiting for confirmation to re-enter short position.

Your trade results will show if you are doing what is correct or you are doing what you like

AudCad H4 short


Just after Chinese New Year trade position. Other than price action not fulfilled, the rest are. In trading position and closed at a lost.

Pattern evolved into bearish butterfly.


Re-enter short position and closed at a lost. Pattern invalidated.


Your trade results will show if you are doing what is correct or you are doing what you like

Monday, February 4, 2013

AudJpyW1 Pending open position

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Waiting for confirmation before entering.

Cautious entry due to pattern forming at 1 week chart.

Watch out for it.

Friday, February 1, 2013

AudNzd H4 successful trade

Your trade results will show if you are doing what is correct or you are doing what you like

Highly tradeable pair.

Harmonic pattern forming within another harmonic pattern.

Confirmation occurred early this morning.

Spread was 6pips when I open entry.

Position closed with +29pips when candlestick showed price weakness.

AudUsd at H4 successful trade

Your trade results will show if you are doing what is correct or you are doing what you like

Trade primarily uses harmonic pattern as basis for trade identification.

Using other indicators as tools to confirm that the harmonic pattern is a valid one to open a position.

This particular pair AudUsd at H4 was closed at profit of 35pips.

More trades to share after this.