HarmonicForex Weekend Analysis (WW2)

<div><div>Good morning traders,</div><div>Let's have a quick review on last week's trades. <a href="https://www.harmonicforex.com/single-post/2018/01/02/HarmonicForex-Weekend-Analysis">(Click here for last week's post)</a></div><div>If you were following me last week, I was looking forward to the fall in the yen pairs. Only managed to take a small profits on the EURJPY short (+20pips). Price managed to only move 50pips down, twice, before it bounced up again. The signs were all there for me to get out without a loss, it was not coincidental.</div><img src="http://static.wixstatic.com/media/11e264_e1bdfa072c89443f8215358ca4971f5a~mv2.jpg" /><div>I have taken a short on EURUSD after the completion of the Shark Pattern. Currently running on about +20pips. The reaction from the NFP figures has given me a higher confidence that it should drop further (barring any news event over the weekend) next week. See the chart below.</div><img src="http://static.wixstatic.com/media/11e264_b8b7454ebb9e4e9e97d3b9cb917eb34f~mv2.jpg" /><div> Expecting EURUSD to drop to the 1.1880 levels</div><div>Moving ahead towards the next trading week, I believe the yen pairs are now more ready to fall. Evidence are found in EURJPY, NZDJPY and even GBPJPY.</div><div>EURJPY – DeepCrab completion at 136.68</div><img src="http://static.wixstatic.com/media/11e264_5bf92ae7b3274ba1b6615a5a1efa3a7f~mv2.jpg" /><div> See also bearish pattern completions on: <div><a href="https://www.tradingview.com/chart/NZDJPY/xGs5unw8-NZDJPY-Yen-pairs-still-on-the-up/">(NZDJPY – Click here)</a> and <a href="https://www.tradingview.com/chart/GBPJPY/5vLEhCzU-GBPJPY-Shark-completes-higher/">(GBPJPY – Click Here).</a></div></div><div>However, since I am already in the EURUSD short, I would probably choose to go short on NZDJPY or GBPJPY over another EUR short. Avoiding correlated pairs.</div><div>One other pattern spotted is the GBPNZD (Bat &amp; Shark)</div><img src="http://static.wixstatic.com/media/11e264_964b6ccf40c14b11b0c4e6eef905e9d7~mv2.jpg" /><div>The Bat pattern has completed and there is a bigger Shark waiting under the waters. Let's see how this pair opens at the beginning of the week to trade it accordingly.</div><div>I don't trade Cryptocurrencies previously because it was just too volatile for my liking. However, Bitcoin seems to be beginning to stabalise and I see patterns forming too. Here are my views on BitCoin for those who trades them.</div><div>Bearish Gartley to short at $18800 and a Bullish Gartley to buy at $7160</div><img src="http://static.wixstatic.com/media/11e264_95a87cf172064c2d91e1bfbef0448420~mv2.jpg" /><div> Trade with care.</div><div>Announcements:</div><div>Last but not least, I am inviting traders who would like to explore more on Harmonic Patterns Trading to my sharing session on the 17th Jan (7pm). Bring along your friends please. This will be a classrom sharing session in Singapore</div><div><a href="https://www.eventbrite.sg/e/analysing-the-markets-with-harmonic-patterns-tickets-41809572557">Please CLICK HERE to RSVP your seats.</a></div><div>Thanks everyone for reading, we strive to continuously give you good educational contents and trade ideas, Trade well and trade safe.</div></div>