01-01-2013, 08:05 PM #1091
What do you guys think about the USDSEK butterfly on the daily?
Edit: is there a way to post higher resolution pictures?
Last edited by Fx4mt; 01-02-2013 at 08:44 PM.
01-02-2013, 03:15 AM #1092
Also, I'm currently looking at this EURUSD move. It's forming up to be a Bat, and I'm looking at doing a possible BAMM trade on it. Given the USDSEK -88.3% correlation to the EURUSD, and it's (USDSEK) progress towards a correction zone, I'm thinking there might be a good trade setup on one of these pairs. Both seem to be favoring a completion of the patterns. Though with fiscal cliff concerns still in the air, I imagine it's probably best to sit on the sidelines. What are you guys' thinking?
01-02-2013, 06:26 AM #1093
I like this butterfly setup on the AUDCHF 1H quite a bit, though the AB=CD is not strong, I like the price action in the reversal zone a lot. We will see how it plays out.
01-02-2013, 07:24 AM #1094
back to trading only tomorrow...
i think now:
EurUsd will be looking for shorts
UsdPln for longs
will see tomorrow
01-02-2013, 01:15 PM #1095
Possible scenerio on E/U. Bullish bat. Waht do you think?
01-02-2013, 01:30 PM #1096
not proper way to draw harmonics. at least for me.
check about the trade identification in gartley or bat threads. this nay clarify.
01-02-2013, 01:51 PM #1097
Thans Kor. Yes, i agree it's not preety one bat, but i think it has a nice location on the chart. D point is placed in the strong demand zone. After that, E/U is on the side trend. Of course im greenhorn in harmonics, so i need a lot of practice to achieve high skill level.
01-02-2013, 02:22 PM #1098
will explain during next days why i think like this
01-02-2013, 06:03 PM #1099
Given the price action in the PRZ on the butterfly USDSEK Daily, I've placed an entry.
Last edited by Fx4mt; 01-02-2013 at 06:09 PM.
01-02-2013, 08:35 PM #1100
Update on the EURUSD BAMM trade, shaping up, however given the correlations on the EURUSD and USDSEK, I've decided to go with the USDSEK trade.
Last edited by Fx4mt; 01-02-2013 at 08:48 PM.