"Happy Lunar New Year!!" - Trade Review (WW03 2020)
Wishing all my readers and your family a Happy & Prosperous Lunar New Year. Enjoy the holidays with your loved ones and friends. This is a festive season where the elders will give 'Hong Pao' (Red packets with money) to children and the youngsters as a symbol of good fortune and prosperity.
Indeed, the good fortune was shining on our trading community in the month of January. Let's have a look at the current trades that are still running.
Trade Review NZDJPY: (Click HERE) to access blog
NZDJPY H4 Chart - Hit TP1 with a +104pips profit, remaining positions protected
After the completion of the Bearish Shark, there were many bearish signs on the lower time frame charts to take the short. Price moved nicely in our direction to lock in the first TP with +104pips.
Currently the SL for the remaining positions are locked at (+31pips) making this trade a risk free trade. Could lower the Sl again to above the recent highs of 72.66. The TP2 is at 71.52 for a +170pips profits.
Trade Review CADJPY: Our Inner Circle Trade with premium clients
Our clients managed to short this pair at the completion of the Bearish Bat Pattern. Currently sitting on +109pips after the BOC released the Interest Rate hold with a poorer economic outlook.
Shifted SL to breakeven. We do not want a very profitable trade to turn into a negative one. First targets are intact and set at 82.28 (another 100pips to go)
Trade Review AUDUSD: Trade shared on HarmonicForex Sharing Room
The trade initially moves nicely in our favour but suddenly too a downturn. Managed to reduce the risk by half at breakeven and trade is currently now sitting on a -14pips loss. Price is at support, failing this levels would mean that we are wrong and should walk away with a loss. SL in place to protect the losses.
For those of you who are in Singapaore, if you are interested in Harmonic Pattern trading, stay tuned for my next introductory classroom session in February. Coming Soon !!