TraderGav.com

Gav's trading blog - Perseverance, Consistency, Confidence

Harmonic setups

$GLD GOLD 08 Nov 2010

by Leave a Comment

I am looking at GOLD chart this morning, I got the feeling it might be the time to see some corrections soon. It is now trading around the top of the recent channel, and there are confluences of Fib extensions and harmonic patterns. I have two potential zones defined on my chart. Let’s see how it works out.

[tab: Setup]

Here is the CHART to confuse you.

GOLD 08 Nov 2010

Define your level, and trade the level.

Trade well.

[tab: Update 13 Nov 2010]

Here is the updated GOLD chart.  We have a pretty nice pull back of GOLD (not without some initial shaking though)

$GLD Bearish harmonic action

$GBPJPY 04 Nov 2010

by 3 Comments

Let’s have a look at the beast, $GBPJPY.  I see some confluences of Fib levels, resistance levels and harmonic pattern formation. I am interested in getting in some shorts around 131.80 level or slightly above this level. Let’s see..

[tab: Setup]

Here is the…. CHART!

$GBPJPY 04 Nov 2010

[tab: Trade update]

No update at the moment, come back later.

[tab:END]

$EURUSD 04 Nov 2010

by

Here is what I see in $EURUSD now. I might be completely wrong and miss the move, but I would prefer to get in short position somewhere near 1.4250 to 1.43 level. I see the confluence of Fib levels, resistance zone in weekly chart,  and a harmonic pattern. I’ll be looking at this setup closely next week, if NFP doesn’t destroy the technical picture.

Here is the CHART! (click on the chart to magnify)

[tab: setup ]

EURUSD Harmonic chart

[tab: Update ]
EURUSD hit the zone, and reversed. Setup worked out nicely.

EURUSD Bearish Harmonic setup update

[tab:END]

$USDX 03 Nov 2010

by Leave a Comment

Not so much of trading for me this week. It is a gambling week, and I don’t have too much of time and energy to gamble the NFP, FOMC, Election etc. Anyway, Dollar index ($DX) bounces off weekly trend line formed by the lows of 2008.4.20 and  2009.11.22. We have a simple harmonic pattern and some Fib levels confluences at current level. Here is the daily chart. This might open up the door for some interesting trading opportunities for the coming week.

[tab: Setup]

Here is the CHART!

Dollar Index

Trade safe, Trade well.

[tab: Update 16 Nov 2010]

Here is the updated DX chart. Bullish harmonic formation works out nicely. Dollar still looking bullish

Dollar Index

$USDCHF 26 Oct 2010

by Leave a Comment

Here is the Swissy chart that I am looking at. I would like to see some price rejections in this zone before establishing short position. Notice the ABCD formation is completed in the resistance zone as well.

Just look at the chart, I am too lazy to write lately. It is really not difficult to recognize a pattern. The key is to manage the trade after recognizing the pattern. We can always have the same patterns/setups, but different set of trading result.

Here is the CHART!

$USDCHF 240min